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Simple English definitions for legal terms
fidepromission
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A quick definition of fidepromission:
Term: FIDEPROMISSION
Definition: Fidepromission is a type of contract in Roman law where someone promises to guarantee something. It is also known as "faith-promise". This was one of the three types of adpromission. A person who makes a fidepromission is called a fidepromissor.
A more thorough explanation:
Definition: Fidepromission is a type of contract in Roman law that serves as a guarantee through a stipulation. The term comes from the Latin words "faith-promise."
Example: In ancient Rome, a fidepromission contract could be used to guarantee the payment of a debt. For example, if someone borrowed money from a lender, they could use a fidepromission contract to have a third party guarantee the repayment of the loan.
This example illustrates how fidepromission works as a form of guarantee. The third party, or fidepromissor, promises to pay the debt if the borrower is unable to do so. This provides security for the lender and reduces the risk of default.