Legal Definitions - pensio

Pensio

In Roman and civil law, pensio refers to a payment made for the temporary use or enjoyment of something that belongs to another party. It is essentially a fee paid in exchange for the right to utilize an asset or property for a specific period, rather than purchasing it outright.

• Example 1: Equipment Rental

  A landscaping company needs a specialized wood chipper for a large project that will last three weeks. Instead of buying the expensive machinery, they enter into an agreement with an equipment rental firm to use the chipper for the duration of the project. The weekly fee the landscaping company pays to the rental firm for the use of the wood chipper is a pensio.

• Example 2: Software Licensing

  A small business wants to use a popular customer relationship management (CRM) software to manage their client interactions. They subscribe to the software service, paying a monthly fee for access and the right to use the application. This recurring subscription payment for the use of the software is considered a pensio.

• Example 3: Commercial Property Lease

  A new art gallery owner wants to display their collection in a prominent downtown storefront. They sign a lease agreement with the building owner to occupy the commercial space for three years. The monthly rent payments the gallery owner makes to the property owner for the use of that commercial space constitute a pensio.