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Simple English definitions for legal terms
fidejussion
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A quick definition of fidejussion:
Term: FIDEJUSSION
Definition: Fidejussion is a legal act where one person becomes an additional security for another person. This act does not remove the liability of the person who needs security, but only adds to the security of the person providing it. It was one of the three types of adpromission in Roman law and is also known as fidejussio or fideiussio.
Example: If a person wants to borrow money from a bank, they may need someone to provide fidejussion to guarantee that they will pay back the loan. The fidejussionary person is not responsible for paying back the loan, but they are responsible for providing additional security for the borrower.
A more thorough explanation:
Definition: Fidejussion is a legal term that originated from Roman law. It refers to an act where a person becomes an additional security for another person. This act does not remove the primary person's liability but only adds to the surety's security.
For example, if a person takes a loan from a bank, the bank may require another person to act as a fidejussionary to guarantee the loan's repayment. If the primary borrower fails to repay the loan, the fidejussionary becomes responsible for the loan's repayment.
The term fidejussionary is used to describe the person who provides the additional security.