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Simple English definitions for legal terms
ad excambium
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A quick definition of ad excambium:
Term: AD EXCAMBIUM
Definition: Ad excambium is a legal term that means "for exchange" or "for compensation".
It is used to describe a situation where two parties agree to exchange something of equal value or to compensate each other for something.
For example, if you were to trade your bicycle for your friend's skateboard, you could say that the exchange was made ad excambium.
A more thorough explanation:
AD EXCAMBIUM
Ad excambium is a Latin term used in law to mean "for exchange" or "for compensation."
- John agreed to give his car to Mary ad excambium for her motorcycle.
- The company offered to pay the employee a bonus ad excambium for working overtime.
These examples illustrate how ad excambium is used to indicate an exchange or compensation. In the first example, John and Mary are exchanging their vehicles, while in the second example, the company is compensating the employee for their extra work with a bonus.