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Simple English definitions for legal terms
de non contrahendo debito
Read a random definition: grantor-retained income trust
A quick definition of de non contrahendo debito:
Term: DE NON CONTRAHENDO DEBITO
Definition: De non contrahendo debito is a Latin phrase used in Scots law to mean "against the contraction of debt." This phrase is often included in an entail, which is a legal document that outlines how property is to be passed down to heirs. When de non contrahendo debito is included in an entail, it prevents the heir from incurring debt. In simpler terms, it means that the person who inherits the property cannot borrow money or take on any financial obligations that would put the property at risk.
A more thorough explanation:
DE NON CONTRAHENDO DEBITO
De non contrahendo debito is a Latin term used in Scots law. It means "against the contraction of debt." This phrase is often included in an entail to prevent the heir from incurring debt.
An example of de non contrahendo debito would be if a wealthy family wanted to ensure that their estate remained debt-free for future generations. They could include this phrase in their will or trust to prevent their heirs from taking on any debt.
Another example would be if a business owner wanted to protect their company from financial risk. They could include this phrase in their partnership agreement to prevent their partners from taking on any debt without their consent.
The examples illustrate how de non contrahendo debito can be used to prevent debt from being incurred. By including this phrase in legal documents, individuals can protect their assets and ensure that their heirs or partners do not take on any unnecessary financial risk.
de non alienando sine consensu superiorum | de non decimando