Simple English definitions for legal terms
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Term: BONIS CEDERE
Definition: Bonis cedere means to give up your belongings to someone else, usually a creditor, in civil law. It is a transfer or surrender of property from a debtor to a creditor.
BONIS CEDERE
BONIS CEDERE is a Latin term that means "to cede one's goods." In civil law, it refers to the transfer or surrender of property, usually from a debtor to a creditor.
One example of BONIS CEDERE is when a person owes money to a creditor and cannot pay it back. In this case, the debtor may transfer ownership of their property to the creditor as a form of payment. For instance, if a person owes money to a bank, the bank may take possession of their car or house as collateral.
Another example is when a person declares bankruptcy. In this case, the debtor may have to surrender their assets to a trustee, who will then distribute them among the creditors.
BONIS CEDERE is a legal term that describes the transfer of property from a debtor to a creditor. This can happen when a person owes money and cannot pay it back, or when they declare bankruptcy. In both cases, the debtor surrenders their assets to the creditor or trustee, who then uses them to pay off the debt. This process is an important part of civil law and helps to ensure that creditors are able to recover their losses when a debtor cannot pay.