In Scots law, this term pertains to the current value of lands or properties and their value in times of peace. Historically, it was employed to ascertain the taxable value of lands. Essentially, it involves determining the present worth of a property and its hypothetical worth in the absence of conflicts or wars.
In Scots law, the phrase “nunc valent et quantum valuerunt tempore pacis” is used to assess the value of lands in the present and their value during peaceful times. This phrase was employed in an investigation to establish the value of lands for taxation purposes. For instance, if there was an inquiry to determine the taxation value of a piece of land, it would examine the current value of the land and compare it to its value during peaceful periods in order to determine its overall worth.
“Now they are worth as much as they were in times of peace.” It is a legal principle that refers to the value of damages or compensation being equivalent to what they would have been in peaceful times.
It is applied in cases where damages or compensation are being sought for losses incurred during times of war or conflict. The principle ensures that the value of the losses is not diminished due to the circumstances of war.
No, it is primarily recognized in civil law systems and is not commonly used in common law jurisdictions.
No, it is not applicable in criminal cases as it pertains to civil damages and compensation.
It is a Latin phrase that has its roots in Roman law and was later adopted by civil law systems.
“Just compensation” refers to the fair market value of property or assets that are being taken by the government for public use. “Nunc Valent Et Quantum Valuerunt Tempore Pacis” refers to the value of damages or compensation in times of war or conflict.
Yes, parties can agree to waive the application of the principle in their contracts or agreements.
No, it is primarily applicable to losses that can be quantified in monetary terms, such as property damage or loss of income.
Yes, it can be used in international law cases where civil law principles are applicable.
“Force majeure” refers to unforeseeable circumstances that prevent a party from fulfilling their contractual obligations. “Nunc Valent Et Quantum Valuerunt Tempore Pacis” relates to the value of damages or compensation in such circumstances, ensuring that the value is not diminished due to the circumstances of war or conflict.
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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