Ultra valorem, a term derived from Law Latin, signifies “beyond the value.” It pertains to instances where something surpasses its designated value or worth. To illustrate, if an individual is indebted by $100, yet the creditor insists on $200, this demand would be considered ultra vires as it exceeds the value of the debt. In essence, ultra valorem is a legal expression employed to characterize circumstances in which something surpasses its value or worth.
ULTRA VALOREM
Ultra valorem, a Latin term used in law, refers to a situation where something exceeds its value or worth. For instance, if a borrower fails to repay a loan, the lender may seize the borrower’s property to recover the debt. However, if the value of the seized property exceeds the amount owed, the lender cannot keep the excess amount, which is considered ultra vires. Similarly, in a bankruptcy case, if a debtor has assets worth more than the amount owed to creditors, the excess amount is considered ultra vires. These examples illustrate the concept of ultra valorem, where something exceeds its value or worth. The excess amount cannot be kept by the lender or the debtor, ensuring fairness and preventing abuse of power. Ultra valorem is an important legal concept that upholds justice.
Ultra Valorem is a legal term that refers to an action or contract that is beyond the value of the property involved. It typically involves a situation where one party receives significantly more benefits or advantages compared to the other party.
Ultra Valorem is generally considered to be illegal and against public policy. It goes against the principle of fairness and equity in contractual agreements.
If a contract is found to be Ultra Valorem, it may be deemed unenforceable by a court of law. The disadvantaged party may have legal remedies available, such as seeking rescission or damages.
Determining if a contract is Ultra Valorem requires a careful analysis of the terms and conditions, as well as the benefits and disadvantages conferred upon each party. It is advisable to consult with a legal professional to assess the fairness of the contract.
Ultra Valorem can be used as a defence if one party claims that the contract is unenforceable due to its unfairness or inequity. However, the success of this defence will depend on the specific circumstances and applicable laws.
In certain situations, such as in cases involving gifts or charitable donations, Ultra Valorem may be permitted. However, these exceptions are limited and subject to specific legal requirements.
If you believe you have entered into an Ultra Valorem contract, it is advisable to seek legal advice promptly. An attorney can assess the validity of the contract and guide you on the appropriate legal actions to take.
Ultra Valorem can apply to both written and verbal contracts. However, it may be more challenging to prove the existence of an Ultra Valorem agreement in the case of verbal contracts due to the lack of written evidence.
Yes, if a party suffers harm or damages as a result of an Ultra Valorem contract, they may have grounds to file a lawsuit seeking remedies such as rescission, restitution, or damages.
Ultra Valorem is closely related to the concepts of unconscionability and undue influence. These legal principles also focus on the fairness and equity of contractual agreements and protect parties from entering into unfair or oppressive contracts.
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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