21:15
Feel like I can finally stop holding my breath!! Whew!!!
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LSDefine
Simple English definitions for legal terms
promissor
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A quick definition of promissor:
A promissor is someone who makes a promise to do something when asked by another person. This is often seen in legal agreements where one party promises to do something in exchange for something else. For example, if you promise to mow your neighbor's lawn in exchange for payment, you are the promissor in that agreement.
A more thorough explanation:
Definition: A promissor is a party in civil law who undertakes to do something in response to the request of another party, known as the stipulator.
For example, if John promises to pay Jane $100 for completing a task, John is the promissor and Jane is the stipulator.
Other related terms include:
- Promissory: Containing or consisting of a promise. For instance, a promissory note is a written promise to pay a specific amount of money.
- Promissory condition: A condition in a contract that requires one party to perform an action before the other party is obligated to fulfill their promise.
- Promissory estoppel: A legal principle that prevents a promissor from going back on their promise if the other party relied on that promise to their detriment.
- Promissory fraud: A type of fraud where a promissor makes a false promise with the intent to deceive the other party.
- Promissory oath: An oath that promises to do something in the future.
- Promissory representation: A statement made by a promissor that they will do something in the future.
- Promissory restraint: A clause in a contract that attempts to discourage a later conveyance by imposing contractual liability on anyone who makes a later conveyance.