Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Incorporate
ub. 1. To form a legal corporation <she incorporated the family business>. 2. To combine with something else <incorporate the exhibits into the agreement>. 3. To make the terms of another (esp. earlier) document part of a document by specific reference <the codicil incorporated the terms of the will>; esp., to apply the provisions of the Bill of Rights to the states by interpreting the 14th Amendment's Due Process Clause as encompassing those provisions.
body corporate.
See CORPORATION.
controlled corporate groups
See cor. GROUP.
corporate
adj. See COMPANY."A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law .... [Ilt possesses only those properties which the charter of its creation confers upon it." Trustees of Dartmouth College u. Woodward, 17 U.S. (4 Wheat.) 518, 636 (1819) (Marshall, J.).
corporate acquisition
The takeover of u"w corporation by another if both parties rct,ain their legal existence after the transaction cf MERGER (7).
corporate agent
an agent authorized to act on behalf of a corporation; broadly, all employees and officers who have the power to bind the corporation.
corporate authority
1 the power rightfullywielded by officers of a corporation. 2. In some jurisdictions, a municipal officer, esp. one empowered to represent the municipality in certain statutory matters.
corporate body
See CORPORATto.
corporate bond
1 An interest-bearing instrument containing a corporation's promise to pay a fixed sum of money at some future time. ( A corporate bond may be secured or unsecured. 2. A bond issued by a corporation, usu. having a maturity of ten years or longer.
corporate books
Written records of a corporation s activities and business transation
corporate charter
1. CERTIFICATE OF INCOR, PORATION (1). 2. A document that one files with the secretary of state upon incorporating a business. ( The corporate charter is often the articles of incorporation.
corporate citizenship
Corporate status in the state of incorporation, though a corporation is not a citizen for the purposes of the Privileges and lmnnunitws Clause of the U.S.
corporate counsel
An in-house attorney for a corporation.
corporate crime
A crime committed either by a corporate body or by its representatives acting on its behalf. ( Examples include pricefixing and consumer fraud. crime against nature See SODOMY.
corporate distribution
A corporation's direct or indirect transfer of money or other property, or incurring of indebtedness to or for the benefit of its shareholders, such as a dividend payment out of current or past earnings.
corporate domicile
See DOMICILE
corporate entity
A corporation's status as an organization existing independently of its shareholders. ( As a separate entity, a corporation can, in its own name, sue and be sued, lend and borrow money, and buy, sell, lease, and mortgage its property.
corporate franchise
See FRANCHISE
corporate immunity
A corporate officer's immunity from personal liability for a tortious act committed while acting in good faith and within the course of corporate duties.
corporate indenture
A document containing the terms and conditions governing the issuance of debt securities, such as bonds or debentures.
corporate name
The registered name under which a corporation conducts legal affairs such as suing, being sued, and paying taxes; the name that a corporation files with a state authority (usu. the secretary of state) as the name under which the corporation will conduct its affairs. ( A corporate name usu. includes, and in many states is required to include, the word "corporation," "incorporated," or "company," or an abbreviation of one of those words. Cf. ASSUMED NAME.
corporate officer
See OFFICER (1;
corporate officer.
An officer of a corporation, such as a CEO, president, secretary, or treasurer.
corporate purpose
The general scope of the business objective for which a corporation was created. ( A statement of corporate purpose is commonly required in the articles of incorporation.
corporate raider
A person or business that attempts to take control of a corporation, against its wishes, by buying its stock and replacing its management. - Often shortened to raider. - Also termed hostile bidder; unfriendly suitor. Cf. WHITE KNIGHT.
corporate sacramentum
Corporal oath. See OATIi. corporal oath See OATH.
corporate seal
A seal adopted by a corporation for executing and authenticating its corporate and legal instruments.
corporate speech
Speech deriving from a corporation and protected under the First Amendment. ( It does not lose protected status simply because of its corporate source. hate speech Speech that carries no meaning other than the expression of hatred for some group, such as a particular race, esp. in cir- cumstances where the communication is likely to provoke violence. Cf. group libel under LIBEL.
corporate stock
An equity security issued by a corporation.
corporate trustee
A corporation that is empowered by its charter to act as a trustee, such as a bank or trust company.
corporate veil
The legal assumption that the acts of a corporation are not the actions of its shareholders, so that the shareholders are exempt from liability for the corporation's actions. See PIERCING THE CORPORATE VEIL.
corporate welfare
Governmental financial assistance given to a large company, usu. in the form of a subsidy.
corporate-mortgage trust
A financing device in which debentures are issued and secured by property held in trust. ( An independent trustee protects the interests of those who purchase the debentures.
corporate-opportunity doctrine
The rule that a corporation's directors, officers, and employees are precluded from using information gained as such to take personal advantage of any business opportunities that the corporation has an expectancy right or property interest in, or that in fairness should otherwise belong to the corporation. ( In a partnership, the analogous principle is the firm-opportunity doctrine.
disregarding the corporate entity
See PIERC ING THE CORPORATE VEIL.
piercing the corporate veil
The judicial act of imposing personal liability on otherwise immune corporate officers, directors, and shareholders for the corporation's wrongful acts. -Also termed disregarding the corporate entity. See CORPORATE VEIL.
res incorporates
[Latin] Civil law. Incorporeal things; intangible things that are not perceptible to the senses. See incorporeal thing under THING.
unincorporated association
See ASSOCIATION (3).