Simple English definitions for legal terms
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Sum certain: A sum certain is a clear and specific amount of money that is agreed upon in a contract. This amount can be for a purchase or a loan, and it is always very clear and easy to understand. It is different from a price that can change based on things like the stock market or interest rates. A sum certain is like a set price that everyone agrees on and there is no confusion about how much it is.
Definition: Sum certain is a specific amount of money that is agreed upon in a contract. This amount can be for a purchase or a loan. The key feature of a sum certain is that the amount is clearly defined and cannot be interpreted differently by either party. It is different from a price that is based on a changing value, such as the stock market or interest rates.
These examples illustrate the definition of sum certain because in both cases, the amount of money is clearly defined and agreed upon by both parties. There is no room for interpretation or confusion about the amount of money involved.