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Simple English definitions for legal terms
firmitas
Read a random definition: fictitious-payee rule
A quick definition of firmitas:
Term: FIRMITAS
Definition: Firmitas is a legal term that refers to a guarantee of a certain right or privilege through a written document, such as a deed or charter.
A more thorough explanation:
Definition: Firmitas is a Latin term used in law to refer to an assurance of some privilege by deed or charter.
Example: A company may receive firmitas in the form of a charter that grants them exclusive rights to operate in a certain area.
This means that the company has a legal assurance that they are the only ones allowed to operate in that area, giving them a competitive advantage over other businesses.