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Legal Definitions - correi stipulandi
Definition of correi stipulandi
The term correi stipulandi, originating from Roman law, describes a situation where multiple individuals are jointly entitled to receive the same performance or benefit from a single obligation. In such a scenario, each of these individuals (the correi stipulandi) has the right to demand the entire performance from the person making the promise or undertaking the obligation. However, a crucial aspect is that once the promisor fulfills the obligation completely to any one of the correi stipulandi, the obligation is considered fully discharged for all of them.
Here are some examples to illustrate this concept:
Family Gift: Imagine a wealthy aunt promises her two nieces, Clara and Maya, a specific, valuable antique vase upon their graduation from college. The aunt states that either niece can claim the vase once they both graduate.
How it illustrates the term: Clara and Maya are the correi stipulandi. Once both have graduated, the aunt can give the antique vase to Clara. By doing so, her obligation to Maya regarding that specific vase is also fulfilled. Maya cannot then demand a second vase of the same kind from the aunt, as the original promise has been discharged by the delivery to Clara.
Joint Project Funding: A philanthropic foundation pledges a grant of $50,000 to a university for a joint research project to be conducted by two specific professors, Dr. Lee and Dr. Chen. The grant agreement specifies that the funds can be disbursed to either Dr. Lee or Dr. Chen, representing the project.
How it illustrates the term: Dr. Lee and Dr. Chen (or the university acting on their behalf) are the correi stipulandi. If the foundation transfers the full $50,000 to Dr. Lee's research account, the foundation's obligation to provide the grant for the project is completely satisfied. Dr. Chen cannot then separately demand another $50,000 from the foundation for the same project.
Service Contract Payment: A client hires a small marketing agency, which is run by two partners, David and Emily, to develop a new advertising campaign. The contract stipulates that the client will pay the agreed fee of $15,000 upon completion of the campaign, and payment can be made to either David or Emily.
How it illustrates the term: David and Emily are the correi stipulandi. Once the client pays the full $15,000 to Emily, the client's contractual obligation to pay for the campaign is fully discharged. David cannot then demand a separate payment of $15,000 from the client for the same completed work.
Simple Definition
Correi stipulandi refers to multiple creditors who are jointly entitled to receive the performance of a single obligation. This term specifically applies when these joint creditors arise from a formal agreement or stipulation.