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Simple English definitions for legal terms
latori praesentium
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A quick definition of latori praesentium:
Term: LATORI PRAESENTIUM
Definition: Latori praesentium is a Latin phrase used in Scots law. It means "to the bearer of these presents." This phrase is often used in reference to written notes or bonds that are made payable to an unnamed creditor. In simpler terms, it means that whoever holds the written note or bond can claim the payment.
A more thorough explanation:
LATORI PRAESENTIUM
Latori praesentium is a Latin term used in Scots law. It means "to the bearer of these presents." This phrase is often used in reference to written notes or bonds that are made payable to an unnamed creditor.
Example 1: John writes a note promising to pay £100 to the bearer of the note. He writes "Latori Praesentium" on the note. This means that whoever holds the note can claim the £100 from John.
Example 2: Mary issues a bond for £500 and writes "Latori Praesentium" on it. This means that whoever holds the bond can claim the £500 from Mary.
These examples illustrate how latori praesentium is used in Scots law. It allows for the transfer of ownership of a note or bond to anyone who holds it, without the need for a specific name to be written on it. This makes it easier for the note or bond to be traded or sold.