Legal Definitions - jus exigendi

Jus exigendi refers to a creditor'slegal right to demand and enforce the immediate payment of a debt or obligation that is currently due. It signifies that the time for payment has arrived, and the creditor can now take steps to collect what is owed.

Here are some examples illustrating jus exigendi:

• Loan Repayment: Imagine a small business owner takes out a loan from a bank, with the agreement that the full amount, plus interest, must be repaid by December 31st. On January 1st of the following year, if the loan has not been repaid, the bank acquires the jus exigendi. This means the bank now has the legal right to demand immediate payment of the outstanding balance and can initiate collection procedures, as the agreed-upon payment date has passed.

• Consulting Services Invoice: A marketing consultant completes a project for a client and sends an invoice stating "Payment Due Upon Receipt." From the moment the client receives this invoice, the consultant has jus exigendi. The payment is immediately due and payable, and the consultant can legally demand the funds without any further waiting period, as per the terms of their agreement.

• Overdue Rent: A tenant signs a lease agreement stipulating that rent is due on the first day of each month. If the tenant fails to pay the rent by the first of the month, the landlord immediately gains jus exigendi for that month's rent. The landlord can then demand the overdue payment and, depending on the lease terms and local laws, begin the process of sending notices or taking legal action to recover the unpaid amount.