Sponsion is the act of making a formal promise to become a surety. It can also refer to a promise made by an official agent that needs to be approved by their superior. In Roman law, it was a guarantee that only Roman citizens could provide, and it was connected to an oral contract. The adjective form is “Sponsional.”
Sponsion is a formal commitment made by an individual to act as a guarantor. It can also refer to a pledge made by an authorized representative that requires subsequent approval from their superior. In Roman law, it is a specific type of guarantee that only Roman citizens were eligible to make. For instance, if you agree to repay a loan on behalf of your friend, you are making a sponsion to become a surety. During times of war, a general may make a sponsion to an enemy, but it must be sanctioned by their superior to be considered valid. In ancient Rome, only citizens had the ability to make a sponsion to ensure an oral contract. Related term: Sponsional (adjective).
Sponsion is the act of guaranteeing or taking responsibility for someone else’s debts or obligations.
Yes, if you have agreed to be a sponsor or guarantor for someone else’s debts or obligations, you can be held responsible if they fail to fulfill their obligations.
Sponsion creates a legal obligation for the sponsor to fulfill the obligations of the person they are sponsoring if that person fails to do so.
In some cases, sponsion can be revoked if both parties agree to it. However, this would typically require the consent of the creditor as well.
Sponsion and surety are similar in that they both involve guaranteeing someone else’s obligations, but surety typically involves a written contract and is more formal than sponsion.
Yes, if the person being sponsored fails to fulfill their obligations, the sponsor can be taken to court to enforce the sponsion agreement.
Yes, a company can act as a sponsor or guarantor for another individual or entity.
The main risk of being a sponsor is that you may be held responsible for someone else’s debts or obligations if they fail to fulfill them.
In some cases, sponsion can be transferred to another person if both parties agree to the transfer and the creditor consents to it.
Yes, sponsion can be used in business transactions as a way to provide assurance to creditors that someone will fulfill their obligations.
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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