Latin Legal Terms

Pactum

Pactum – this Latin noun means treaty, pact, and contract. In practice, the word participates in the legal term “pacta sunt servanda”, which in terms of Law of Contracts means: “Contracts should be obeyed and performed”, which is basic civil principle in the modern law, accepted in many legal systems. It is also used as part of the expression „pactum nudum”, which means “naked pact, not a strong agreement”.
The word also participates in the legal phrase “Pactum constitutae pecuniae”, which means “a contract for concrete amount” and usually is used in the Law of Contracts area, where refers to the reached agreement between the creditor and the debtor (or another person who wishes to cover the debt) that the debt shall be paid back towards the creditor on a certain, concrete date.
- Pactum de non petendo – this legal phrase comes from Latin and in many legal systems details a concluded agreement in favor of the debtor, via which contract the creditor obliges not to enforce the debt at the local court, until certain deadline occurs. In this way the debtor buys some more time for re-payment of their debt.
- Pactum De Quota Litis – this legal phrase comes from Latin: for example, this cold be an agreement concluded between the creditor and a third party, where against direct payment towards the creditor, the third party receives part of the initial debt. I.e. part of the initial debt is transferred. It is important here to detail the need for notifying properly the debtor for the substitute of creditors. Initially the debtor doesn’t mind to whom he will have to pay back the debt (as long as the amount of the debt is not changed), but in the manner of proper performance the debtor has to be informed about eventual change of their creditors.

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Bear that none of the listings on this dictionary and its explanations does not represent legal advice, and should not be considered applicable to any individual case or legal suit. All the definitions and interpretations have been stipulated with a theoretical purpose only to deliver more concrete information to the visitor of the website about the term or phrase itself.