Debitum in diem is a Latin phrase that refers to a debt that must be paid at a later date. It is comparable to borrowing money and being informed that repayment is required, but not immediately. This phrase is used to describe a debt that is owed, but the deadline for payment has not yet arrived. Ubi dies cessit, licet nondum venerit is another Latin phrase that conveys the idea that when the time for payment arrives, even if it is not yet time to demand it, the debt must be settled. It is similar to debitum in diem.
The Latin term “Debitum in diem” refers to a debt that is payable at a future date. For instance, if you borrow money from a friend and agree to pay it back in six months, you have a debitum in diem. The debt is due on a specific date in the future, and you are obligated to pay it back by that date. This example illustrates the definition of debitum in diem because it shows a situation where a debt is owed but the payment is not due immediately. The debtor has a specific date by which they must pay the debt, and until that date arrives, the creditor cannot demand payment.
On the other hand, “Ubi dies cessit, licet nondum venerit” is a Latin term that refers to a situation where a debt is due but cannot be collected until a later date. For example, if you owe money on a credit card and the due date is in two weeks, the creditor cannot demand payment until that due date arrives. However, the debt is still considered to be due because the time for payment has arrived. This example illustrates the definition of ubi dies cessit, licet nondum venerit because it shows a situation where a debt is due but cannot be collected until a later date. The creditor cannot demand payment until the due date arrives, but the debtor is still obligated to pay the debt because the time for payment has already arrived.
Debitum In Diem is a Latin term that translates to “due on the day.” It refers to a legal principle that requires the payment of a debt on a specific date.
No, Debitum In Diem is typically applicable to debts that have a specific due date mentioned in the contract or agreement between the parties involved.
In general, the due date of a debt cannot be extended under Debitum In Diem unless both parties agree to modify the terms of the contract or agreement.
If a debtor fails to pay the debt on the due date, the creditor may have the right to take legal action to recover the debt, such as filing a lawsuit or initiating debt collection procedures.
Yes, depending on the terms of the contract or agreement, a debtor may be held liable for interest or penalties for late payment if they fail to pay the debt on the due date.
No, under Debitum In Diem, a creditor cannot demand early payment of a debt unless there is a specific provision in the contract or agreement allowing for such a demand.
Yes, Debitum In Diem can be waived or modified if both parties agree to change the terms of the contract or agreement. However, such modifications should be made in writing to avoid any disputes.
Yes, there may be exceptions to Debitum In Diem based on specific laws or regulations in different jurisdictions. It is important to consult with a legal professional to understand the applicable rules in your jurisdiction.
Yes, Debitum In Diem can be enforced in court if a debtor fails to pay the debt on the due date. The creditor can file a lawsuit to seek a judgment for the outstanding debt.
To ensure compliance with Debitum In Diem, it is crucial to clearly define the due date and payment terms in the contract or agreement. Both parties should also maintain proper documentation of any modifications or waivers to the original terms.
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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