Legal Definitions - de momento in momentum

De momento in momentum is a Latin phrase used in Scots law, meaning "from moment to moment." It refers to a continuous and precise calculation or application of time, where every instant is accounted for without interruption or approximation. This concept is crucial when legal rights, obligations, or durations depend on an exact measurement of time.

• Example 1: Lease Agreement Termination

  Imagine a commercial lease agreement that specifies a tenant must vacate the premises by 5:00 PM on a particular date. If the lease states that the tenant's right to occupy expires "de momento in momentum" at that specific time, it means their legal right to be on the property ceases precisely at 5:00 PM, not a minute before or after. Any continued occupation beyond that exact instant would constitute a breach of the lease terms.

  This illustrates the term because the calculation of the lease's duration is exact, down to the very moment, emphasizing that the legal right to occupy ends precisely at the specified instant.

• Example 2: Continuous Insurance Coverage

  Consider an insurance policy for a high-value asset, such as a commercial cargo ship. The policy might stipulate that coverage is provided "de momento in momentum" from the policy's start date and time until its expiration. This means the ship is continuously protected without any gaps in coverage, even for a second, from the exact start time to the exact end time. Any incident occurring within that precise window is covered, highlighting the uninterrupted nature of the protection.

  Here, "de momento in momentum" ensures that the insurance coverage is unbroken and precisely measured across the entire policy period, leaving no moment unprotected.

• Example 3: Calculation of Interest on a Loan

  When a loan agreement specifies that interest accrues "de momento in momentum," it means that interest is continuously calculated on the outstanding principal balance for every moment the loan is active. This ensures that the lender is compensated for the use of their money for the exact duration it is borrowed, down to the smallest unit of time, rather than being calculated only daily, weekly, or monthly.

  This example demonstrates the term by showing how the financial obligation of interest is precisely and continuously measured over time, reflecting the "from moment to moment" principle in its calculation.