16:14
Justice as Fairness!
Warning
Info
LSDefine
Simple English definitions for legal terms
successor titulo lucrativo post contractum debitum
Read a random definition: substantive main motion
A quick definition of successor titulo lucrativo post contractum debitum:
Term: SUCCESSOR TITULO LUCRATIVO POST CONTRACTUM DEBITUM
Definition: This is a legal term that refers to a person who inherits a profitable title after a debt has been incurred. In simpler terms, it means someone who receives a valuable asset or property after someone else has borrowed money and not paid it back.
A more thorough explanation:
Successor titulo lucrativo post contractum debitum is a legal term in Latin that refers to a person who inherits a profitable title after a debt has been incurred.
For example, if a person owes a debt to someone and then passes away, their heir may become the successor titulo lucrativo post contractum debitum if they inherit a profitable title, such as a business or property.
Another example could be a company that goes bankrupt and owes money to its creditors. If another company buys the bankrupt company's assets and takes over its profitable contracts, the buying company becomes the successor titulo lucrativo post contractum debitum.
These examples illustrate how a person or entity can become the successor under a lucrative title after a debt has been contracted. It is important to note that this term is typically used in historical legal contexts and may not be commonly used in modern legal language.