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Simple English definitions for legal terms
fundatio
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A quick definition of fundatio:
Term: FUNDATIO
Definition: Fundatio is a Latin word that means "founding" or "foundation". In history, it refers to the creation of a corporation, especially one that is meant to help others. There are two types of fundatio: fundatio incipiens, which is when a corporation is first created, and fundatio perficiens, which is when money or other resources are given to the corporation to help it achieve its goals.
A more thorough explanation:
Definition: Fundatio (pronounced fuhn-day-shee-oh) is a Latin word that means "founding" or "foundation." In history, it refers to the establishment of a corporation, especially a charitable one.
Examples:
- Fundatio incipiens: This Latin phrase means "incipient foundation." It refers to the process of incorporating or granting corporate powers to a new organization. For example, when a group of people come together to start a new charity, they may need to go through the process of fundatio incipiens to become an official corporation.
- Fundatio perficiens: This Latin phrase means "perfecting foundation." It refers to the act of endowing or gifting funds to a corporation. For example, if a wealthy donor wants to support a charitable organization, they may make a large donation as a fundatio perficiens to help the organization achieve its goals.
These examples illustrate how fundatio can be used in the context of creating and supporting charitable organizations. The term emphasizes the importance of establishing a strong foundation for a corporation, both in terms of legal status and financial resources.