Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Back-to-work agreement
a contract between a union and an employer covering the terms under which the employees will return to work after a strike.
Disagreement
1. A difference of opinion; a lack of agreement. 2. A quarrel. 3. An annulment; a refusal to accept something, such as an interest in an estate.
EDI agreement
abbr. Electronic Data Interchange agreement; an agreement that governs the transfer or exchange of data, such as purchase orders, between parties by computer. 9 Electronic data transmitted under an EDI agreement is usu. formatted according to an agreed standard, such as the American National Standards Institute ANSI X12 standard or the U.N. EDIFACT standard.
Electronic Data Interchange agreement
See EDI AGREEMENT.
Gallagher agreement
A contract that gives one codefendant the right to settle with the plaintiff for a fixed sum at any time during trial and that guarantees payment of the sum regardless of the trial's outcome. City of Tucson u. Gallagher, 493 P.2d 1197 (Ariz. 1972). Cf. MARY CARTER AGREEMENT.
General Agreement on Tariffs and Trade
A multiparty international agreement - signed originally in 1948 - that promotes international trade by lowering import duties and providing equal access to markets. ( More than 130 nations are parties to the agreement. - Abbr. GATT.
Hazantown agreement
A type of collective-bargaining agreement used in the garment industry, governing the relationship between a jobber and the contractors that produce the jobber's garments. ( The agreement does not govern the relationship between the jobber and its own employees. It governs the relationship between the jobber and the contractors that manufacture the garments that the jobber sells, including agreements that the jobber will use only unionized contractors, will ensure that salaries and bonuses are appropriately paid, and will contribute to employeebenefit funds maintained on behalf of the contractor's employees. This term gets its name from Hazantown, Inc., the jobber involved in Danielson u. Joint Bd. of Coat, Suit & Allied Garment Workers' Union, 494 F.2d 1230 (2d Cir. 1974). - Also termed jobber's agreement.
Mary Carter agreement
A contract (usu. a secret one) by which one or more, but not all, codefendants settle with the plaintiff and obtain a release, along with a provision granting them a portion of any recovery from the nonparticipating codefendants. ( In a Mary Carter agreement, the participating codefendants agree to remain parties to the lawsuit and, if no recovery is awarded against the nonparticipating codefendants, to pay the plaintiff a settled amount. Such an agreement is void as against public policy in some states but is valid in others if disclosed to the jury. Booth u. Mary Carter Paint Co., 202 So. 2d 8 (Fla. Dist. Ct. App. 1967). Cf. GALLAGHER AGREEMENT.
Miller v. Shugart agreement.
A settlement in which an insured consents to a judgment in favor of the plaintiff, on the condition that the plaintiff will satisfy the judgment only out of proceeds from the insured's policy, and will not seek recovery against the insured personally. Although the phrase takes its name from a Minnesota case, it is used in other jurisdictions as well. Miller v. Shugart, 316 N.W.2d 729 (Minn. 1982).
Montreal Agreement
A private agreement, signed by most international airlines, waiving both the Warsaw Convention's limitation on liability for death and personal-injury cases (currently about $20,000) and the airline's duecare defenses, raising the liability limit per passenger to $75,000, and providing for absolute liability on the part of the carrier (in the absence of passenger negligence) for all flights originating, stopping, or terminating in the United States. 0 The Montreal Agreement was the result of negotiations in 1965 and 1966 following the United States' denunciation of the Warsaw Convention, based primarily on its low liability limits. - Also termed Agreement Relating to Liability Limitation of the Warsaw Convention and the Hague Protocol.
North American Free Trade Agreement
A trilateral treaty - entered into on January 1, 1994 between the United States, Canada, and Mexico - that phases out all tariffs and eliminates many nontariff barriers (such as quotas) inhibiting the free trade of goods between the participating nations. - Abbr. NAFTA.
agreement
a mutual understanding between two or more persons about their relative rights and duties regarding past or future performances; a manifestation of mutual assent by two or more persons. 2. the parties' actual bargain as found in their language or by impli-cation from other circumstances, including course of dealing or usage of trade or course of performance. ucc § 1-201(3). "an agreement, as the courts have said, 'is nothing more than a manifestation of mutual assent' by two or more parties legally competent persons to one another. agreement is in some respects a broader term than contract, or even than bargain or promise. it covers executed sales, gifts, and other transfers of property." samuel williston, a treatise on the law of contracts § 2, at 6 (walter h.e. jaeger ed., 3d ed. 1957).
agreement of sale
see agreement.
agreement relating to liability limitation of the warsaw convention and the hague protocol.
see montreal agreement.
agreement to agree
1. an unenforceable agreement that purports to bind two parties to negotiate and enter into a contract; esp., a proposed agreement negotiated with the intent that the final agreement will be embodied in a formal written document and that neither party will be bound until the final agreement is executed. 2. a fully enforceable agreement containing terms that are sufficiently definite as well as adequate consideration, but leaving some details to be worked out by the parties.
agreement to sell
an agreement that obligates someone to sell.
air-transport agreement
a contract govern ing the operation of air services; esp., an inter governmental agreement governing the opention of international air services between their territories - also termed air-services agreement
antenuptial agreement
see prenuptial agreement.
binding agreement
an enforceable contract. see contract.
binding agreement.
See AGREEMENT
blanket agreement.
Labor law. A collectivebargaining agreement that applies to workers throughout an organization, industry, or geographical area.
boundary by agreement
See DOCTRINE OF PRACTICAL LOCATION.
buy-and-sell agreement
See BUY-SELL AGREEMENT.
buy-sell agreement
1. An arrangement between owners of a business by which the surviving owners agree to purchase the interest of a withdrawing or deceased owner. Cf. CONTINUATION AGREEMENT. 2. Corporations. A share transfer restriction that commits the shareholder to sell, and the corporation or other shareholders to buy, the shareholder's shares at a fixed price when a specified event occurs. - Also termed buy-and-sell agreement. Cf. OPTION AGREEMENT. BW. abbr. BID WANTED.
charter agreement
See CHARTERPARTY.
clearing agreement
A contract whose purpose is to facilitate the collective settlement of monetary claims between creditors and debtors in different currency areas, without resort to foreign-exchange reserves.
closing agreement
tax. a written contract between a taxpayer and the internal revenue service to resolve a tax dispute.
cohabitation agreement
A contract outlining the property and financial arrangements between persons who live together. Cf. PRENUPTIAL AGREEMENT.
collective-bargaining agreement
Labor law. A contract that is made between an employer and a labor union and that regulates employment conditions. - Also termed collective labor agreement; trade agreement.
conditional agreement
See AGREEMENT.
cross-purchase buy-sell agreement.
1. BUY SELL AGREEMENT (1). 2. A partnership insurance plan in which each partner individually buys and maintains enough insurance on the life or lives of other partners to purchase a deceased orexpelled partner's equity.
cultural agreement
Int'l law. A bilateral or multilateral agreement between nations for the purpose of furthering cultural or intellectual relations.
earnout agreement
An agreement for the sale of a business whereby the buyer first pays an agreed amount up front, leaving the final purchase price to be determined by the business's future profits. ( Usu. the seller helps manage the business for a period after the sale. -Sometimes shortened to earnout.
escrow agreement
The instructions given to the third-party depositary of an escrow. escrow contract See CONTRACT,
executive agreement
Int'l law. An interns. tional agreement entered into by the President, without the need for approval by the Senate, and usu. involving routine diplomatic matters Cf. TREATY.
extension agreement
An agreement providing additional time for the basic agreement to be performed.
fair-trade agreement
A commercial agreement that a seller will sell all of a producer's goods at or above a specified minimum price. Fair-trade agreements were valid until 1975, when the Consumer Goods Pricing Act .made them illegal. 15 USCA §§ 1, 45.
farmout agreement
n. Oil & gas. A transaction in which the owner of an oil-and-gas lease (the farmoutor) assigns the lease to another (the farmoutee), who agrees to drill a well on the lease. ( The farmoutor usu. retains an overriding royalty interest in the lease. - Often shortened to farmout. - Also written farm out agreement; farm-out agreement. See ASSIGNMENT.
field-warehouse financing agreement
The loan agreement in a field-warehousing arrangement.
formal agreement
an agreement in which the law requires not only the consent of the parties but also a manifestation of the agreement in some particular form, in default of which the agreement is null.
formal agreement.
See AGREEMENT.
forward agreement.
See FORWARD CONTRACT.
franchise agreement
The contract between a franchisor and franchisee establishing the terms and conditions of the franchise relationship. ( State and federal laws regulate franchise agreements.
gas-balancing agreement
Oil & gas. A contract between owners of a producing gas well setting forth how production will be apportioned among them if one owner sells more gas than the other owners "Gas balancing agreements address the problem of imbalances in production from a gas well or field. Co-owners frequently sell their share of production to different purchasers .... Even when co-owners sell to the same purchaser, their contracts are likely to be signed at different times and to have different price and take provisions. Thus, imbalances are inevitable." John S. Lowe, Oil and Gas Law in a Nutshell 385 (3d ed. 1995).
gentleman's agreement
See GENTLEMEN'S AGREEMENT.
gentlemen's agreement
An unwritten agreement that, while not legally enforceable, is secured by the good faith and honor of the parties. - Also spelled gentleman's agreement.
hands-off agreement.
A noncompete contractual provision between an employer and a former employee prohibiting the employee from using information learned during his or her employment to divert or to steal customers from the former employer.
high-low agreement.
A settlement in which a defendant agrees to pay the plaintiff a minimum recovery in return for the plaintiff's agreement to accept a maximum amount regardless of the outcome of the trial. - Also termed hilo settlement.
hold-harmless agreement.
A contract in which one party agrees to indemnify the other. -Also termed save-harmless agreement. See INDEMNITY
horizontal agreement.
See horizontal restraint under RESTRAINT OF TRADE. horizontal competition. See COMPETITION.