Legal Definitions - secundum vires inventarii

Secundum vires inventarii is a historical legal principle that translates from Latin to "according to the extent of the inventory." This concept signifies that a person's legal responsibility, authority, or liability, particularly in managing an estate or assets, is strictly limited to the value and scope of the assets that have been formally identified and listed in an official inventory.

Essentially, it means that one can only act or be held accountable for what is actually present, documented, and accounted for within the specified inventory.

• Example 1: Estate Administration

  Imagine an executor tasked with managing the estate of a deceased person. The deceased had outstanding debts totaling $150,000. However, after a thorough assessment, the formal inventory of the deceased's assets (including bank accounts, property, and investments) only amounts to $100,000.

  Under the principle of secundum vires inventarii, the executor's legal responsibility to pay the debts is limited to the $100,000 available in the estate's inventory. The executor is not personally liable for the remaining $50,000 shortfall, nor can they be compelled to pay it from their own personal funds. Their duty and liability are strictly "according to the extent of the inventory" of the deceased's assets.

• Example 2: Historical Business Insolvency

  In a historical scenario, if a merchant's business became insolvent, an official inventory of all business assets – such as goods in stock, equipment, and outstanding customer payments – would be compiled. Creditors would then seek repayment for their outstanding loans and invoices.

  The creditors could only recover their debts secundum vires inventarii. This means they could only be paid from the specific assets listed in that business inventory. If the total value of the inventoried business assets was less than the total debt owed, the creditors would receive a proportional share up to the inventory's value, and the merchant's personal assets not included in the business inventory would typically be protected from further claims.

• Example 3: Trustee's Limited Authority

  Consider a historical legal context where a court appointed a trustee to manage the financial affairs of an individual deemed legally incapable. The court ordered a detailed inventory of all the individual's property, investments, and funds.

  The trustee's authority to sell assets, pay bills, or make investments on behalf of the individual would be strictly limited secundum vires inventarii. They could only manage and dispose of the specific assets and funds that were formally identified and listed in that court-approved inventory. The trustee would have no legal power to act upon any assets or funds that were not included in the official inventory, ensuring their actions were precisely defined by the inventory's scope.