Legal Definitions - receptus

In legal contexts, particularly those rooted in civil law traditions, a receptus refers to an individual chosen by disputing parties to resolve their conflict.

This term emphasizes that the individual is 'received' or accepted by all parties involved, signifying their mutual agreement to have this specific person act as their arbitrator and make a binding decision.

• Business Dispute: Imagine two software companies, "CodeCrafters" and "AppInnovate," have a significant disagreement over the intellectual property rights of a jointly developed application. Rather than pursuing a lengthy court battle, their contract stipulates that they must appoint an independent technology law expert to review their claims and issue a final, binding decision. Both companies agree on Dr. Evelyn Reed, a renowned expert in the field.

  Explanation: Dr. Reed, by being mutually chosen and accepted by both CodeCrafters and AppInnovate to settle their dispute, acts as a receptus. Both parties have "received" her authority to resolve their conflict impartially.

• Construction Contract: A homeowner and a construction company are in a dispute regarding the quality of the foundation work and the final payment. Their contract includes an arbitration clause, and they jointly select a retired civil engineer with extensive experience in construction disputes to hear their arguments and issue a ruling on the matter.

  Explanation: The retired civil engineer, having been mutually agreed upon and accepted by both the homeowner and the construction company to arbitrate their dispute, functions as a receptus. They have been "received" by both sides to provide an impartial resolution.

• Partnership Dissolution: Two long-time business partners, Sarah and Tom, decide to dissolve their graphic design firm. They cannot agree on how to fairly divide the company's assets, client list, and outstanding liabilities. To avoid litigation, they agree to engage a neutral financial expert specializing in business valuations to review their books and propose a fair distribution plan, which they both commit to accepting.

  Explanation: The financial expert, having been mutually agreed upon and accepted by both Sarah and Tom to resolve their financial disagreements during the dissolution, serves as a receptus. Both partners have "received" this expert's role in making a binding decision.