Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
appreciation
n. an increase in an asset's value, usu. because of inflation. - appreciate, ub. - appreciable, adj. cf. depreciation.
appreciation surplus
See revaluation surplus.
appreciation test
criminal law. a test for the insanity defense requiring proof by clear and convincing evidence that at the time of the crime, the defendant suffered from a severe mental disease or defect preventing him or her from appreciating the wrongfulness of the conduct. 0 this test, along with the accompanying plea of not guilty by reason of insanity, was established by the insanity defense reform act of 1984. 18 usca ยง 17. - also termed insanity defense reform act of 1984 test. see insanity defense.
shared-appreciation mortgage
A mortgage giving the lender the right to recover (as contingent interest) an agreed percentage of the property's appreciation in value when itis sold or at some other specified, future date. - Abbr. SAM.
stock-appreciation right
A right, typically granted in tandem with a stock option, to be paid the option value (usu. in cash) when exercised along with the simultaneous cancellation of the option. - Abbr. SAR.