Legal Definitions - solvendum in futuro

solvendum in futuro

The Latin term solvendum in futuro refers to a situation where a debt or obligation is legally established and due at the present time, but the actual payment or fulfillment of that obligation is deferred to a future date. In essence, the liability exists now, but the money or action is not required until later.

Here are some examples to illustrate this concept:

• A business completes a project for a client.

  Imagine a marketing agency finishes a major advertising campaign for a client today. According to their contract, the client owes the agency a final payment of $50,000, but the payment terms stipulate that the invoice is due 60 days after project completion. In this scenario, the client's debt to the agency is legally established and "due" today because the work is done. However, the actual payment (solvendum) is scheduled for a future date (in futuro), 60 days from now.

• A court orders a settlement payment.

  Consider a personal injury lawsuit where the parties reach a settlement agreement today, and a judge signs an order for the defendant to pay the plaintiff $100,000. Due to the defendant's financial circumstances, the court allows them to make the full payment in one lump sum six months from the date of the order. The defendant's obligation to pay the $100,000 is legally binding and "due" as of the court order today. However, the actual act of payment is deferred to a future date, demonstrating solvendum in futuro.

• A landlord and tenant agree on deferred rent.

  Suppose a small business tenant is struggling financially and negotiates with their landlord to defer three months of rent payments, totaling $15,000, until the end of the year. They sign an amendment to their lease agreement today, acknowledging the $15,000 debt for the past three months' rent. While the rent for those months was "due" when it accrued, the agreement now makes the payment of that accumulated debt solvendum in futuro, payable at the agreed-upon later date.