20:59
ALSO CONGRATS!
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
de aestimato
Read a random definition: United States of America
A quick definition of de aestimato:
De Aestimato: A legal term from ancient Rome that means estimating the value of something in money. It was used when someone bought goods from another person but didn't pay or return the goods after a certain period. The owner of the goods could take legal action against the person who received the goods. This was often used by traveling merchants or second-hand dealers who bought items and then resold them at higher prices or returned them to the owner.
A more thorough explanation:
Definition: De aestimato (dee es-ti-may-toh) is a Latin term used in Roman law. It means "for the estimation of something in money". It refers to an action that an owner of goods can take against a person who received the goods but failed to either pay the owner an agreed price after finding a purchaser or return the goods to the owner after a certain period.
Example: A traveling merchant sells a piece of jewelry to a second-hand dealer. They agree that the dealer will either pay the merchant an agreed price after finding a purchaser or return the jewelry to the merchant after a certain period. However, the dealer fails to do either of these things. The merchant can then take legal action against the dealer using de aestimato.
This example illustrates how de aestimato was often used by traveling merchants or second-hand dealers who purchased items and then resold them at higher prices or returned them to the owner.