Legal Question in Business Law in Pakistan

Re: term

(term)1. A limited period of time. A period of time that is assigned to a person to serve: a six-year term as senator. See Synonyms at period. A period when a school or court is in session. 2. A point in time at which something ends; termination: an apprenticeship nearing its term. The end of a normal gestation period: carried the fetus to term. A deadline, as for making a payment. 3. Law. A fixed period of time for which an estate is granted. An estate granted for a fixed period. 4. A word or group of words having a particular meaning: had to explain the term gridlock. terms. Language of a certain kind; chosen words: spoke in rather vague terms; praised him in glowing terms. 5. Often terms. One of the elements of a proposed or concluded agreement; a condition: offered favorable peace terms; one of the terms of the lease; the terms of a divorce settlement. 6. terms. The relationship between two people or groups; personal footing: on good terms with her in-laws. 7. Mathematics. One of the quantities composing a ratio or fraction or forming a series. One of the quantities connected by addition or subtraction signs in an equation; a member. 8. Logic. Each of the two concepts being compared or related in a proposition. 9. A stone or post marking a boundary, especially a squared and downward-tapering pillar adorned with a head and upper torso.v. tr. termed, term-ing, terms. To designate; call. --idiom. in terms of. 1. As measured or indicated by; in units of: distances expressed in terms of kilometers as well as miles; cheap entertainment, but costly in terms of time wasted. 2. In relation to; with reference to: "facilities planned and programmed in terms of their interrelationships, instead of evolving haphazardly" (Wharton Magazine).[Middle English terme, from Old French, from Latin terminus, boundary., N., senses 4-8, from Middle English, from Medieval Latin terminus, from Late Latin, mathematical or logical term, from Latin, boundary, limit.]