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Simple English definitions for legal terms
ubi dies cessit, licet nondum venerit
Read a random definition: dissolving condition
A quick definition of ubi dies cessit, licet nondum venerit:
Term: UBI DIES CESSIT, LICET NONDUM VENERIT
Definition: This Latin phrase means that when the time has come for money to be paid, even if it is not yet the time when it can be demanded. It is often used in reference to a debt that is due but for which the payment date has not yet arrived. Another Latin phrase, debitum in diem, means a debt that is payable at a future date.
A more thorough explanation:
Definition: In the case where the time has arrived at which money is due, although that time has not arrived at which it may be exacted.
Definition: A debt payable at a future date.
Example: John owes $100 to his friend, but the due date is next month. Even though the time for payment has not yet arrived, the debt is still considered due. This is an example of ubi dies cessit, licet nondum venerit.
Example: Sarah borrowed $500 from the bank and agreed to pay it back in six months. This is an example of debitum in diem, as the debt is payable at a future date.
These two phrases are often used in legal and financial contexts to describe debts that are due but not yet payable or debts that are payable at a future date. They illustrate the importance of keeping track of payment deadlines and understanding the terms of any loans or debts.
ubi defunctus habuit domicilium | ubi dolus dedit causam contractui