Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
irrevocable
adj. Unalterable; committed beyond recall. - irrevocability, n. irrevocable guaranty. See GUARANTY.
irrevocable guaranty
A guaranty that cannot be terminated unless the other parties consent.
irrevocable letter of credit
See LETTER OF CREDIT.
irrevocable offer
. An offer that includes a promise to keep it open for a specified period, during which the offer cannot be withdrawn without the offeror's becoming subject to liability for breach of contract. ( Traditionally, this type of promise must be supported by consideration to be enforceable, but under UCC ยง 2-205, a merchant's signed, written offer giving assurances that it will be held open - but lacking consideration - is nonetheless irrevocable for the stated period (or, if not stated, for a reasonable time not exceeding three months). - Also termed (in the UCC) firm offer; (specif.) merchant's firm offer.
irrevocable power of attorney
A power of attorney that the principal cannot revoke. - Also termed power of attorney coupled with an interest. See power coupled with an interest under POWER.
irrevocable trust
See TRUST.