In lieu of payment
Freeing oneself from a debt through a different service or property from the one initially provided in the contract.
Inability of a natural person to exercise his/her rights and obligations, because of his/her young age or because of a default in his/her mental faculties, said person being therefore under legal guardianship of protection.
Procedure seeking the settlement of a trader natural person's difficulties or of a legal person, such difficulties deriving from a creditor 's assignment, either following a statement of suspension of payment by one or several administrator(s), or by motion of the court itself.
There are three different insolvency procedures: the safeguard procedure, the legal redress and the winding-up by decision of court.
A written document establishing an agreement between one or more people. There is a distinction between:
- Private instruments : instruments that co-contractors establish by their signature alone but which can easily be disputed because each party can deny having signed them.
- Authentic instrument: instruments drawn up and recorded by a person with public authority. The persons include the administrative authorities (ministers, prefects, mayors), legal authorities, registrars, public officers such as court officials, clerks of the court and notaires. The prerogatives of authentic instruments mean they are outside the scope of ordinary law. They are authentic in themselves ( probative value ) and may be executed without legal recognition ( enforceability ). In the field of private instruments, the notarised instrument is the main authentic instrument.
Inter vivos distribution
The instrument of dividing either all or part of your property between your heirs during your lifetime. The transfer of ownership is immediate and final but the donor may retain the usufruct of the donated property.