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Simple English definitions for legal terms
ad valentiam
Read a random definition: cash-basis accounting method
A quick definition of ad valentiam:
Term: AD VALENTIAM
Definition: Ad valentiam is a Latin term used in law that means "to the value."
For example, if a property is sold ad valentiam, the price will be determined based on its current market value. This term is often used in contracts and legal documents to ensure that both parties agree on the value of the item being bought or sold.
Overall, ad valentiam is a way to ensure fairness and transparency in transactions by basing the price on the actual value of the item.
A more thorough explanation:
AD VALENTIAM
ad valentiam (ad v-len-shee-m), adv. [Law Latin] To the value.
Ad valentiam is a legal term that means "to the value." It is often used in legal documents to indicate that something is being valued or assessed.
1. The property was sold ad valentiam, meaning that the price was based on its current market value.
2. The damages were assessed ad valentiam, meaning that they were calculated based on the value of the property that was damaged.
In the first example, the term ad valentiam is used to indicate that the price of the property was based on its current market value. This means that the buyer paid a price that was in line with what other similar properties were selling for at the time.
In the second example, the term ad valentiam is used to indicate that the damages were calculated based on the value of the property that was damaged. This means that the amount of money awarded for the damages was directly related to the value of the property that was affected.