The term “Certus plegius” in Latin translates to “sure pledge” or “salvus plegius” meaning “safe pledge.” In legal context, it signifies a reliable guarantee for a debt or obligation. It essentially assures that if the debt is not repaid or the obligation is not fulfiled, something valuable will be provided as promised.
Certus plegius, also known as salvus plegius, is a Latin term that refers to a satisfactory pledge. In legal terms, it is a sure and safe pledge that provides assurance to lenders when someone borrows money. This pledge can take the form of property, a valuable item, or a guarantor who promises to repay the loan if the borrower is unable to do so. By requiring a certus plegius, lenders can reduce the risk of lending money and protect their own interests by ensuring they can recover their funds in case of default.
Certus Plegius is a Latin term that translates to “certain pledge” and refers to a type of legal guarantee or surety provided by a third party to ensure the performance of a contract or obligation.
Certus Plegius is commonly used in commercial transactions, such as loans, leases, and construction contracts, to provide assurance to the parties involved that the terms of the agreement will be fulfilled.
Certus Plegius can be provided by a variety of entities, including banks, insurance companies, and other financial institutions that are willing to guarantee the performance of a contract or obligation.
While Certus Plegius and surety bonds both provide a form of guarantee for the performance of a contract, they are not exactly the same. Certus Plegius is a broader concept that encompasses various forms of surety, including surety bonds.
The legal implications of Certus Plegius depend on the specific terms and conditions of the guarantee, as well as the applicable laws and regulations. It is important to carefully review and understand the terms of the Certus Plegius agreement.
Certus Plegius can typically only be revoked if the parties involved agree to release the guarantee or if certain conditions specified in the agreement are met.
If the party providing Certus Plegius fails to fulfill their obligation, the beneficiary of the guarantee may have legal recourse to seek compensation for any losses incurred as a result of the breach.
The enforcement of Certus Plegius typically involves legal action to compel the party providing the guarantee to fulfill their obligation or to seek compensation for any losses suffered.
In some cases, Certus Plegius may be transferable to another party with the consent of the original beneficiary and the party providing the guarantee.
The limitations of Certus Plegius depend on the specific terms and conditions of the guarantee, as well as the applicable laws and regulations. It is important to carefully review and understand the limitations of the Certus Plegius agreement.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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