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Simple English definitions for legal terms
consummation
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A quick definition of consummation:
Term: Consummation
Definition: Consummation means completing something. It can refer to the first time a husband and wife have sex after getting married, which is important in some religions. It can also refer to finishing everything that needs to be done in a contract. In bankruptcy, it means when most of the things in the bankruptcy plan have been done.
A more thorough explanation:
Definition: Consummation means the completion or fulfillment of something.
Consummation can have different meanings depending on the context in which it is used. Here are some examples:
- Marriage: In the context of marriage, consummation means the first act of sexual intercourse between a husband and wife after marriage. This act is considered to be the actualization of the marriage. In some religious traditions, failure to consummate a marriage can be grounds for divorce or annulment.
- Contract: In the context of a contract, consummation occurs when all the terms and conditions of the contract have been fulfilled or completed. For example, if a contract requires the delivery of goods and payment, consummation would occur when the goods have been delivered and payment has been made.
- Bankruptcy: In the context of bankruptcy, consummation means "substantial consummation" as defined in the Bankruptcy Code. This refers to the point at which a bankruptcy plan has been substantially performed and the debtor's obligations have been fulfilled.
These examples illustrate how consummation refers to the completion or fulfillment of a particular action or obligation. In each context, there are specific requirements that must be met before consummation can occur.