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A mutuum was a loan for consumption. [1] It was the oldest contract in re, growing in importance after 326 BC when the lex Poetalia was passed. [5] It could be used by people without the right of commercium – a package of rights to participate in the ius civile and to undertake remedies. [6]
A commodate (Latin: commodatum), also known as loan for use, [1] in civil law and Scots Law is a gratuitous loan; a loan, or free concession of anything moveable or immoveable, for a certain timeframe, on condition of restoring again the same individual after a certain time.
In contract law the contract price is a material term. The contract price is the price for the goods or services to be received in the contract. The contract price helps to determine whether a contract may exist. If the contract price is not included in the written contract, then upon litigation the court may hold that a contract did not exist.
Term used in contract law to specify terms that are voided or confirmed in effect from the execution of the contract. Cf. ex nunc. Ex turpi causa non oritur actio: ex nunc: from now on Term used in contract law to specify terms that are voided or confirmed in effect only in the future and not prior to the contract, or its adjudication. Cf. ex ...
Literal contracts (contractus litteris) formed part of the Roman law of contracts. Of uncertain origin, in terms of time and any historical development, they are often seen as subsidiary in the Roman law to other forms. They had developed by at the latest 100 BC, and continued into the Late Roman Empire.
If the price of the hiring is not fixed, the contract is not locatio conductio, but affords grounds for an action praescriptis verbis. If the consideration for the hiring was not a sum of money, but a loan for use ( commodatum ) granted to the letter, then this was regarded not as a locatio , but as a transaction involving two loans, and an ...
In contract law, a contract of sale, sales contract, sales order, or contract for sale [1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).
Freedom of contract is the process in which individuals and groups form contracts without government restrictions. This is opposed to government regulations such as minimum-wage laws , competition laws , economic sanctions , restrictions on price fixing , or restrictions on contracting with undocumented workers .