Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
right of redemption
See EQUITY OF REDEMPTION.
sale with right of redemption
A sale in which the seller reserves the right to retake the goods by refunding the purchase price.
statutory right of redemption
The right of a mortgagor in default to recover property after a foreclosure sale by paying the principal, interest, and other costs that are owed, together with any other measure required to cure the default. ( This statutory right exists in many states but is not uniform. See REDEMPTION.