Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

built-in obsolescence

See planned obsolescence under OBSOLESCENCE.

economic obsolescence

Obsolescence that results from external economic factors, such as decreased demand or changed governmental regulations.

functional obsolescence

Obsolescence that results either from inherent deficiencies in the property, such as inadequate equipment or design, or from improvements in the property since its use began.

obsolescence

. 1. The process or state of falling into disuse or becoming obsolete. 2. A diminution in the value or usefulness of property, esp. as a result of technological advances. ( For tax purposes, obsolescence is usu. distinguished from physical deterioration. Cf. DEPRECIATION.

planned obsolescence

A system or policy of deliberately producing consumer goods that will wear out or become outdated after limited use, thus inducing consumers to buy new items more frequently. - Also termed builtin obsolescence.