13:13
i heard the group interview is really chill and I'm kinda excited to do it
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Simple English definitions for legal terms
parata executio
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A quick definition of parata executio:
Parata executio: In Scots law, it means that a creditor has completed all the necessary steps to obtain payment of a debt. It's like being fully prepared to get what someone owes you.
A more thorough explanation:
Definition: Parata executio is a legal term used in Scots law. It means "a prepared diligence". It refers to a creditor's completed diligence that allows them to proceed to obtain payment of a debt.
Example: Let's say John owes Mary a debt of £1000. Mary has tried to collect the debt from John but he has not paid. Mary can then use parata executio to take legal action against John to recover the debt. This may involve seizing John's assets or wages to pay off the debt.
The example illustrates how parata executio allows a creditor to take legal action to recover a debt that has not been paid by the debtor.