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Exploring Addictio In Diem: A Key Concept in Roman Contract Law
Definition & Meaning
Addictio in diem is a legal term that originates from Latin, meaning "assignment for a fixed period" or "postponement to a date." In the context of Roman law, it refers to a specific clause in a sales contract. This clause allows the seller to rescind the contract if they receive a better offer from another buyer within a predetermined time frame. The original buyer only needs to match the new offer to retain their purchase rights.
Table of content
Legal Use & context
This term is primarily used in contract law, particularly in the context of sales agreements. It serves as a protective measure for sellers, allowing them to seek better deals while still giving the original buyer a chance to maintain their purchase. Users can manage related legal processes through templates available from platforms like US Legal Forms, which provide guidance on drafting and understanding contracts that may include this clause.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
(Hypothetical example) A homeowner sells their house to a buyer with an addictio in diem clause. Within 30 days, another buyer offers a higher price. The seller informs the original buyer, who then has the option to match the new offer to complete the purchase.
State-by-state differences
Examples of state differences (not exhaustive):
State
Legal Considerations
California
May require specific language in contracts to enforce addictio in diem.
New York
Courts may interpret the clause differently based on contract terms.
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
Comparison with related terms
Term
Definition
Difference
Addictio in diem
A clause allowing the seller to rescind a contract for a better offer.
Focuses on the seller's right to seek better offers.
Option contract
A contract that gives one party the right to purchase at a set price.
Gives the buyer a right, rather than allowing the seller to rescind.
Common misunderstandings
What to do if this term applies to you
If you are involved in a contract that includes an addictio in diem clause, ensure you understand the terms and your rights. If you receive notice of a better offer, consider whether you can match it. For assistance, explore US Legal Forms for templates and resources that can help you navigate this process. If your situation is complex, consulting a legal professional may be beneficial.
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