In Roman law, fidepromission refers to a contract where an individual pledges to ensure something, also known as “faith-promise”. This falls under the category of adpromission, one of the three types. The individual making the fidepromission is referred to as a fidepromissor.
Fidepromission, a contract in Roman law, functions as a guarantee by means of a stipulation. The term originates from the Latin words “faith-promise.” For instance, in ancient Rome, a fidepromission contract could be employed to ensure the repayment of a debt. If an individual borrowed money from a lender, they could utilise a fidepromission contract to have a third party guarantee the loan’s repayment. This example demonstrates how fidepromission operates as a form of assurance. The third party, known as the fidepromissor, pledges to pay the debt if the borrower is unable to do so. This arrangement provides security for the lender and minimizes the risk of default.
A fidepromission is a legal promise to pay a debt or fulfill an obligation made by a third party on behalf of another person.
A fidepromission can be made by any person who is willing to assume the obligation of another person.
The purpose of a fidepromission is to provide security for a debt or obligation by having a third party assume the responsibility for it.
Yes, a fidepromission is legally binding and enforceable in court.
A fidepromission cannot be revoked once it has been made, unless there is a specific provision in the agreement allowing for revocation.
If the person who made the fidepromission fails to fulfill the obligation, the third party who assumed the responsibility may be held liable for the debt or obligation.
A fidepromission can be used in any type of legal agreement where there is a debt or obligation that needs to be secured.
A fidepromission is similar to a guaranty, but there are some differences. A guaranty is a promise to pay a debt if the original debtor fails to do so, while a fidepromission is a promise to assume the obligation of another person.
A fidepromission cannot be transferred to another person without the consent of the original parties involved.
A surety is a person who agrees to be responsible for the debt or obligation of another person, while a fidepromission is a promise to assume the obligation of another person.
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: 16th April 2024.
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