Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
derivative action
1. A suit by a beneficiary of a fiduciary to enforce a right belonging to the fiduciary; esp., a suit asserted by a shareholder on the corporation's behalf against a third party (usu. a corporate officer) because of the corporation's failure to take some action against the third party. - Also termed derivative suit; shareholder derivative suit; stockholder derivative suit; representative action. Cf. DIRECT ACTION (3). 2. A lawsuit arising from an injury to another person, such as a husband's action for loss of consortium arising from an injury to his wife caused by a third person.
derivative action.
See DERIVATIVE ACTION. dinate or temporary capacity <an adjunct professor. adjunct, n.