SMAF & Associates

Casa
Italia
Milan
SMAF & Associates

Studio legale / law firm in Italy Studio di diritto commerciale e internazionale / Commercial Law firm, international contracts & transactions

24/04/2019

A legal term per day: E as "Estate”. In Italian “Eredità”, in French “Héritage”, In Spanish “Herencia”. The concept, precisely, is referred in Legal Jargon to the net worth of a person after death, summarizing person's assets, legal rights, interests and entitlements to property of any kind, less all liabilities.
See the definition from encyclopedia:

An estate, in common law, is the net worth of a person at any point in time alive or dead. It is the sum of a person's assets – legal rights, interests and entitlements to property of any kind – less all liabilities at that time. The issue is of special legal significance on a question of bankru...

24/04/2019

A legal term per day: E as "Effects”. In Italian “Effetti”, in French “Effets”, In Spanish “Efectos”. This is the typical operation of a law, of an agreement, or an act. The concept, precisely, is referred in Legal Jargon to the result that an instrument between parties or unilateral (a contract, a deed, a will) will produce in their relative rights.
See the definition from dictionary:

Definition of effect in the Legal Dictionary by The Free Dictionary

24/04/2019

A legal term per day: D as "Date Certain”. In Italian “Data Certa”, in French “Date Certaine”, In Spanish “Fecha Cierta”.
The term is commonly referred to exact date on, or by which, the specified actions of a contract can be reasonably completed. This is a binding date, which allows for expectation of precise delivery of goods or commodities and which can be known in advance.
See the definition in the dictionary:

Date certain is a term identifying the date on/by which the specified actions of a contract can be reasonably completed.

24/04/2019

A legal term per day: D as "Damage”. In Italian “Danno”, in French “Dommage”, In Spanish “daño”.
The term is commonly referred to a loss or an injury, caused negligently or intentionally, to a person or property.
See the encyclopedic definition:

At common law, damages are a remedy in the form of a monetary award to be paid to a claimant as compensation for loss or injury.[1] To warrant the award, the claimant must usually show that a breach of duty has caused foreseeable loss. To be recognised at law, the loss must involve damage to propert...

24/04/2019

A legal term per day: C as "Change". In Spanish “Cambio”, in Italian “Cambio”, in French “Change”.
The term is commonly referred to the activity of a bureau de change. The latter is the business which makes its profit by selling currency. The transaction makes profits when the sale of currency happens at a higher exchange rate than a rate at which the bureau buys the same currency.
See the encyclopedic definition of Bureau de Change:

A bureau de change[1] (plural bureaux de change, both /ˌbjʊəroʊ də ˈʃɒnʒ/) (British English) or currency exchange[2] (American English) is a business where people can exchange one currency for another.

24/04/2019

A legal term per day: C as "Company Capital". In Spanish “Capital Social”, in Italian “Capitale Sociale”, in French “Capital Social”. The term is commonly referred to all funds raised by a company in exchange for shares. Its amount varies over time, given that the company can obtain authorization to issue and sell additional shares.
See the encyclopedic definition:

Share capital refers to funds raised by issuing shares in return for cash or other considerations.

24/04/2019

A legal term per day: B as "Beneficial owner". In Italian “Beneficiario”, in Spanish “Beneficiario”, In French “Bénéficiarie”.
The concept refers to anyone who enjoys the benefits of ownership of a security or property, without being on the record as the registered owner. In securities law, a beneficial owner of a security includes any person who, directly or indirectly, has or shares voting or investment power.
See the encyclopedic definition:

Beneficial ownership is a term in domestic and international commercial law that refers to anyone who enjoys the benefits of ownership of a security or property, without being on the record as being the owner. Webster's defines a beneficial owner as "one who enjoys the benefit of a property of which...

24/04/2019

A legal term per day: B as "Bankruptcy". In Italian “Bancarotta Fraudolenta”, in Spanish “Quiebra Fraudulenta, In French “Banquerote Frauduleuse”, in English “Fraudulent Bankruptcy”. The concept refers to a typical white-collar crime, whereas nearly 70% of all bankruptcy fraud involves the concealment of assets, and, commonly, the criminal commits one of these forms of fraud with another crime, such as identity theft, mortgage fraud, money laundering, and public corruption.
See the encyclopedic definition:

Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.

24/04/2019

A legal term per day: A as "Abrogation". In Italian "Abrogazione", in French "Abrogation", in Spanish "Abrogación".
The term is commonly referred to the repeal, removal or reversal of a law. There is, for example, a repeal with a re-enactment (or replacement) of the repealed law, or a repeal without any replacement.
See the encyclopedic definition:

A repeal is the removal or reversal of a law. There are two basic types of repeal, a repeal with a re-enactment (or replacement) of the repealed law, or a repeal without any replacement.

24/04/2019

A legal term per day: A as "Abuse of right". In Italian "abuso del diritto", in French "abus de droit", in Spanish "abuso de derecho". The term is commonly referred to the exercise of a right in order to harm a third party, disregarding the social duties, only to cause annoyance, harm, or injury to another. See the encyclopedic definition:

In civil law jurisdictions, abuse of rights (also known as Prohibition of Chicane) is the exercise of a legal right only to cause annoyance, harm, or injury to another. The abuser is liable for the harm caused by their actions. Some examples of this are abuse of power, barratry, frivolous or vexatio...

24/04/2019

A legal term per day: G as "Garantee”. In Italian “Garanzia”, in Spanish “Garantía”, in French “Sûreté”.

The technical term regards a right conferred on the creditor to secure the payment of an obligation. Further, guarantee refers to a promise, which produces economic and legal effects. Indeed, the person to whom the guarantee is given is the creditor or the "obligee", who receives an additional legal and economic surety to be paid.

See the encyclopedic definition:

Guarantee is a legal term more comprehensive and of higher import than either warranty or "security". It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him. It may also designate a trea...

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