20:59
got a random stanford email and almost had a heart attack
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LSDefine
Simple English definitions for legal terms
emptio
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A quick definition of emptio:
Emptio is a Latin word that means "purchase". In Roman and civil law, it refers to the act of buying something. Emptio bonorum is a type of forced sale of an insolvent debtor's estate, where the purchaser takes over all the debtor's property, rights, and claims, and becomes responsible for their debts and liabilities. Emptio et venditio is a contract of sale where both the buyer and seller have duties and rights. Emptio rei speratae is the purchase of something not yet in existence or not yet in the seller's possession, like a future crop. Emptio spei is an emptio rei speratae where the price is fixed, regardless of actual gain.
A more thorough explanation:
Term: EmptioDefinition: Emptio is a Latin word that means "purchase." In Roman and civil law, it refers to the act of buying something. For example, when you go to a store and buy a toy, you are making an emptio. Another type of emptio is called "emptio bonorum," which is a forced sale of an insolvent debtor's estate. This means that when someone owes a lot of money and can't pay it back, their property is sold to pay off their debts. The person who buys the property becomes responsible for the debts. Emptio can also refer to a contract of sale, where both the buyer and seller have duties and rights in the transaction. For example, when you buy a car from a dealership, you are making an emptio et venditio.