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Simple English definitions for legal terms
pignoratitia actio
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A quick definition of pignoratitia actio:
Term: PIGNORATITIA ACTIO
Definition: Pignoratitia actio is a legal action in ancient Roman law that involves a pledge. This action can be initiated either by the debtor (directa) or the creditor (contraria) and is based on the pledge. It is similar to cautio pigneratitia, which is a type of security deposit.
A more thorough explanation:
PIGNORATITIA ACTIO
Pignoratitia actio is a Latin term used in Roman law. It refers to an action that is based on a pledge. This pledge can be made by either the debtor or the creditor. There are two types of pignoratitia actio: an action directa and an action contraria.
Example 1: If a debtor pledges their car as collateral for a loan, the creditor can use pignoratitia actio to take possession of the car if the debtor fails to repay the loan.
Example 2: If a creditor holds a valuable item as collateral for a loan, the debtor can use pignoratitia actio to demand the return of the item once the loan has been repaid.
These examples illustrate how pignoratitia actio can be used in different situations where a pledge is involved. It provides a legal framework for both the debtor and creditor to protect their interests in the event of a default or repayment.