Legal Definitions - ad terminum annorum

Ad terminum annorum is a Latin legal phrase that translates to "for a term of years." It refers to an agreement, contract, or arrangement that is established for a specific, fixed period of time, typically measured in years, rather than being open-ended or indefinite.

Here are some examples to illustrate this concept:

• Commercial Property Lease: Imagine a restaurant owner signing a lease agreement for a new location. The lease document specifies that the tenant will occupy the premises "ad terminum annorum" for a period of ten years. This means the agreement is not month-to-month or indefinite; it has a clear start and end date, defining the exact duration of the tenancy.

  How it illustrates the term: The ten-year period is a fixed "term of years" for which the agreement is valid, directly reflecting the meaning of ad terminum annorum.

• Fixed-Term Employment Contract: A technology company hires a project manager for a specialized software development initiative. The employment contract states that the manager is hired "ad terminum annorum" for two years, specifically to oversee this particular project. After the two years, the contract concludes unless a new agreement is made.

  How it illustrates the term: The employment is for a defined "term of years" (two years), indicating a temporary, fixed-duration role rather than permanent employment.

• Government Infrastructure Bond: A city issues bonds to fund a new public transportation system. An investor purchases one of these bonds, which states that it will mature "ad terminum annorum" in twenty years. This means the city promises to repay the principal amount to the bondholder after exactly two decades.

  How it illustrates the term: The bond has a specific "term of years" (twenty years) until its maturity, defining the duration of the investment and when the principal will be returned.