Legal Definitions - denumeration

Denumeration refers to the act of making a payment immediately or at the time a transaction is concluded, rather than deferring it to a later date or paying in installments.

Here are some examples to illustrate this concept:

• Imagine a customer purchasing a new laptop at an electronics store. When they proceed to the checkout, they pay the full price using their credit card. This is an act of denumeration because the payment is made instantly and completely at the moment the transaction is finalized, transferring funds for the goods received without delay.

• Consider a homeowner who hires a landscaper to trim trees and mow the lawn. Upon the completion of the work, the homeowner hands the landscaper a check for the agreed-upon total amount before the landscaper leaves the property. This scenario demonstrates denumeration because the payment for the services rendered is made immediately upon their completion, rather than being billed later or paid in parts.

• A small business owner has an outstanding invoice from a supplier. To take advantage of an early payment discount, the owner logs into their bank's online portal and initiates an immediate electronic funds transfer to the supplier's account for the full invoice amount. This is an example of denumeration as the business owner is making a direct, present payment to satisfy the debt, rather than waiting for the payment due date or arranging a future payment schedule.