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Simple English definitions for legal terms
prestable
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A quick definition of prestable:
Term: PRESTABLE
Definition: Prestable is a word used in Scots law to describe a debt that is both payable and enforceable. It means that the person who owes the debt must pay it, and the person who is owed the debt can legally demand payment.
Similar term: Exigible
A more thorough explanation:
Definition: Prestable (pres-tə-bəl), adjective in Scots law, means:
- Payable
- Enforceable; exigible
This term is usually used in reference to a debt.
Example: John owes Mary $100. The debt is prestable, which means that John is required to pay the $100 to Mary, and Mary can legally enforce the debt if John fails to pay.
Explanation: In this example, the debt is prestable, which means that it is both payable and enforceable. John owes Mary $100, and Mary has the legal right to demand payment from John. If John fails to pay, Mary can take legal action to enforce the debt.