Legal Definitions - jus crediti

Jus Crediti

Jus crediti refers to a creditor's established legal right to receive payment of a debt. This right is not merely a hope or expectation; it is a concrete asset that belongs to the creditor and can be enforced through legal action if necessary. Even if the payment is due at a future date, the right to receive that payment is considered a present and vested part of the creditor's assets.

• Example 1: Business Loan

  A small business takes out a loan from a bank to purchase new equipment. The loan agreement specifies a repayment schedule over five years.

  Explanation: From the moment the loan is disbursed, the bank holds a jus crediti. This means the bank has a legally recognized and enforceable right to receive the loan repayments, even though the payments will occur over an extended period. If the business defaults, the bank can exercise this right through legal processes to recover the outstanding debt.

• Example 2: Contract for Services

  A marketing agency completes a website design project for a client, and their contract stipulates that the client will pay the final invoice within 45 days of project completion.

  Explanation: Upon completing the website, the marketing agency acquires a jus crediti for the agreed-upon fee. Even though the payment is not immediately due, the agency has a vested legal right to that money. This right allows them to pursue legal recourse if the client fails to pay within the contractual timeframe.

• Example 3: Future Inheritance from a Trust

  A will establishes a trust fund for a grandchild, stating that the grandchild will receive a substantial sum of money from the trust upon reaching their 30th birthday. The grandchild is currently 22 years old.

  Explanation: Although the grandchild cannot access the funds immediately, they possess a jus crediti to that future payment. This right is a legally recognized and protected asset, not just a mere hope, and forms part of their estate, even though the actual distribution is deferred until a specific future condition (turning 30) is met.