What does actio redhibitoria meaning?
Roman & civil law. An action for restoration to cancel a sale because of defects in the thing sold. Pl.
What is meant by Actio quanti minoris?
actio quanti minoris. originally a remedy in Roman law granted to the aedile (a magistrate with jurisdiction over markets) when a latent defect appeared that had not been revealed to the buyer, allowing the buyer (within a year) to seek the difference between the price paid and the value.
What does Aedilitian mean?
(also aedilitian) Roman History. A person who has been an aedile, and so has the right to be elected to other offices.
What is claiming a price reduction under actio quanti minoris?
Under the Actio Quanti Minoris, the purchaser is limited to claim a price reduction which would be equal to the difference between the value of the goods and the purchase price. (Usually it is the amount required to repair the defect).
What is the passing of risk in a contract of sale?
Risk however passes to the buyer on conclusion of the contract of sale; in other words, you could buy something, and if it is stolen or destroyed before you take ownership, you could end up losing both it and the purchase price.
What is a Voetstoots clause?
The voetstoots clause is a provision in the agreement which stipulates that the purchaser buys the property from the seller as it stands and thereby indemnifying the seller against claims for damages in respect of any defects on the property, whether patent or latent.
What is the meaning of Accion Pauliana?
Indeed, an accion pauliana presupposes a judgment and the issuance by the trial court of a writ of execution for the satisfaction of the judgment and the failure of the Sheriff to enforce and satisfy the judgment of the court. It presupposes that the creditor has exhausted the property of the debtor.
What is the recto law?
Recto, the statute was called Act No. 4122, otherwise known as the Installment Sales Law. Its main purpose is to prevent potential abuses by the seller in the event that the buyer is unable to make further installments for a property. It was passed by the Philippine Legislature on December 9, 1933.
What are the Aedilitian remedies?
The aedilitian actions, are the legal actions that are available in terms of Roman law, whereby a party may protect themselves against latent defects in the thing sold. The two remedies available in this context are the actio redhibitoria and the actio quanti minoris.
What is the major consequence of the cancellation of a contract?
The consequences of cancelling a contract are that the obligations to perform terminate and the parties are obligated to return what has been performed.
What is the passing of risk?
The passing of risk means that the responsibility for loss of or damage to the goods passes from the seller to the purchaser. The result of that transition is that the buyer bears any loss or damage relating to the sold goods. Different trading terms have different points where the passage of risk occurs.
What is the risk rule?
At-risk rules are tax shelter laws that limit the amount of allowable deductions that an entity can claim as a result of engaging in specific activities–referred to as at-risk activities–that may result in financial losses. The amount that a taxpayer has at-risk is measured annually at the end of the tax year.
Which is the best dictionary for actio redhibitoria?
Definitions from Black’s Law Dictionary: 2nd Edition and Ballentine’s Law Dictionary as are available for each term in each dictionary. Actio redhibitoria Ballentine’s Law Dictionary
What is the legal definition of ” actio “?
actio (ak-shee-oh alsoak-tee-oh), n. [Latin] 1. Roman & civil law. An action; a right or claim. 2. A right of action. [Cases: Action 1. C.J.S. Actions §§ 2–9, 11, 17, 21, 32–33, 36.] 3. Hist. At common law, a lawsuit. Pl. actiones (ak-shee-oh-neez). actio ad exhibendum (ak-shee-oh ad ek-si-ben-d[schwa]m).Roman law.
What is the legal definition of actio arbitraria?
actio arbitraria (ak-shee-oh ahr-bi-trair-ee- [schwa]).Roman law. An action in which a judex issued an in-terlocutory decree ordering the defendant to do something (such as restoring property to the plaintiff) on pain of a monetary judgment payable to the plaintiff. ?
What does actio venditi mean in maritime law?
ACTIO VENDITI An action employed in behalf of a seller, to compel a buyer to pay the… RESTITUTION In maritime law. When a portion of a ship’s cargo is lost by jettison, and…