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Simple English definitions for legal terms
spes obligationis
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A quick definition of spes obligationis:
Term: SPES OBLIGATIONIS
Definition: Spes obligationis is a Latin term that means the hope of an obligation yet to emerge. This refers to the expectation or anticipation of a future obligation that has not yet been fully realized or established. It is like waiting for something to happen, but not knowing exactly when or how it will happen.
A more thorough explanation:
SPES OBLIGATIONIS
Spes obligationis is a Latin term that refers to the hope of an obligation that has not yet emerged.
For example, if a person signs a contract to buy a house that is still under construction, they have a spes obligationis because they hope that the seller will fulfill their obligation to complete the house and transfer ownership to the buyer.
Another example is when a company signs a contract with a supplier to deliver goods at a future date. The company has a spes obligationis because they hope that the supplier will fulfill their obligation to deliver the goods on time and in the agreed-upon condition.
Spes obligationis is a legal concept that refers to the expectation or hope that an obligation will be fulfilled in the future. It is often used in contracts and other legal agreements where one party has agreed to perform a certain action or provide a certain service, but that action or service has not yet been completed. The concept of spes obligationis recognizes that even though the obligation has not yet been fulfilled, it still exists and can be enforced if necessary.