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Simple English definitions for legal terms
bona activa
Read a random definition: Mandatory Power of Appointment
A quick definition of bona activa:
Term: BONA ACTIVA
Definition: Bona activa means "active goods" in Latin. It refers to a person's assets, which are things they own that have value. This can include money, property, and possessions. Bona activa can also refer to the claims that a person has against others, such as money owed to them. It is the opposite of bona passiva, which refers to a person's debts and liabilities.
A more thorough explanation:
Definition: Bona activa is a Latin term that means "active goods." It refers to assets or things that a person owns that have value. It can also refer to the claims that a person has against others.
Examples:
- A person's house, car, and savings account are all examples of bona activa.
- If a person is owed money by someone else, that is also considered bona activa.
These examples illustrate the definition of bona activa because they are all things that have value and can be used to benefit the person who owns them. They are "active" because they are actively being used or can be used to generate income or other benefits.