18:49
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Simple English definitions for legal terms
salvo beneficio competentiae
Read a random definition: writ of execution
A quick definition of salvo beneficio competentiae:
Term: Salvo Beneficio Competentiae
Definition: Salvo Beneficio Competentiae is a Latin term that means "saving the benefit of being held liable only to the extent that one's means permit." It is a legal concept that protects debtors by allowing them to pay only as much as they can reasonably afford, so that they can still have enough to live on after paying their debts. This concept is also known as Beneficium Competentiae in Roman and Scots law.
A more thorough explanation:
Definition: Salvo beneficio competentiae is a Latin term that means "saving the benefit of being held liable only to the extent that one's means permit." It is a legal concept that protects debtors from being forced to pay more than they can reasonably afford.
Example: In Roman and Scots law, a debtor has the right to be ordered to pay only as much as they can reasonably afford. This means that after assigning their estate to creditors, the debtor must have enough left to live on. For example, if a debtor owes $10,000 but can only afford to pay $5,000, they can be ordered to pay only $5,000.
This concept is important because it ensures that debtors are not unfairly burdened with debt that they cannot reasonably repay. It also protects their basic right to a minimum standard of living.