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wegen Verkürzung über die Hälfte

English translation: gross disparity (laesio enormis)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:wegen Verkürzung über die Hälfte
English translation:gross disparity (laesio enormis)
Entered by: Kim Metzger
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22:39 Feb 16, 2009
German to English translations [PRO]
Bus/Financial - Insurance
German term or phrase: wegen Verkürzung über die Hälfte
The whole sentence:
Beide Vertragsteile erklären, dass ihnen der wahre Wert von Leistung und Gegenleistung bekannt ist, und dass sie sich mit diesen Werten ausdrücklich einverstanden erklären, sodass eine Anfechtung dieses Vertrages nach Abs. 934 ABGB wegen Verkürzung über die Hälfte ausgeschlossen ist.

I don't understand the end of the sentence. Could anyone help me?
Thank you in advance!
Dragana
Prevodi ORBIS
Serbia
Local time: 10:29
gross disparity
Explanation:
Or lesion beyond moiety

Laesio enormis
DE: Laesio enormis •Verkürzung über die Hälfte
EN: laesio enormis •gross disparity
Definition DE: Die Laesio enormis (lat., wörtlich: erhebliche Schädigung), deutsch auch Verkürzung über die Hälfte, ist ein Rechtsinstitut mit Ursprung im römischen Recht.
http://www.mijnwoordenboek.nl/EN/theme/FI/DE/EN/L/5

Lesion beyond moiety is a civil law term used to describe the ability of a seller of immovable property to rescind that sale if the price paid for the property is less than (usually half of) the actual value of the property at the time of the sale.
The concept is known as laesio enormis in some other civil law countries, where it is not necessarily restricted to sales of immovable property. For example, under §934 of the Austrian Civil Code, the party to a contract may rescind it if it receives less than half of the fair value of the consideration. The other party may avert rescission by agreeing to pay the difference to full value. The laesio enormis has been criticized from a law and economics perspective for its inefficient incentives. In many cases it is impossible to profit from gathering information because profits above the mentioned threshold are prohibited by the law. [1]
http://en.wikipedia.org/wiki/Lesion_beyond_moiety

The Ordering Party shall be unable to avoid or adapt the contract for any reason whatsoever, e.g. on the ground of error (including calculation errors) and/or rescind the contract if it receives less than half of the fair value of the consideration (Verkürzung über die Hälfte, laesio enormis). The Ordering Party furthermore waives its right to claim that the contract has not been effectively brought about and/or is null and void.
http://www.christof-group.at/en/terms_conditions
Selected response from:

Kim Metzger
Mexico
Local time: 03:29
Grading comment
MANY, MANY THANKS!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1gross disparity
Kim Metzger


  

Answers


13 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
gross disparity


Explanation:
Or lesion beyond moiety

Laesio enormis
DE: Laesio enormis •Verkürzung über die Hälfte
EN: laesio enormis •gross disparity
Definition DE: Die Laesio enormis (lat., wörtlich: erhebliche Schädigung), deutsch auch Verkürzung über die Hälfte, ist ein Rechtsinstitut mit Ursprung im römischen Recht.
http://www.mijnwoordenboek.nl/EN/theme/FI/DE/EN/L/5

Lesion beyond moiety is a civil law term used to describe the ability of a seller of immovable property to rescind that sale if the price paid for the property is less than (usually half of) the actual value of the property at the time of the sale.
The concept is known as laesio enormis in some other civil law countries, where it is not necessarily restricted to sales of immovable property. For example, under §934 of the Austrian Civil Code, the party to a contract may rescind it if it receives less than half of the fair value of the consideration. The other party may avert rescission by agreeing to pay the difference to full value. The laesio enormis has been criticized from a law and economics perspective for its inefficient incentives. In many cases it is impossible to profit from gathering information because profits above the mentioned threshold are prohibited by the law. [1]
http://en.wikipedia.org/wiki/Lesion_beyond_moiety

The Ordering Party shall be unable to avoid or adapt the contract for any reason whatsoever, e.g. on the ground of error (including calculation errors) and/or rescind the contract if it receives less than half of the fair value of the consideration (Verkürzung über die Hälfte, laesio enormis). The Ordering Party furthermore waives its right to claim that the contract has not been effectively brought about and/or is null and void.
http://www.christof-group.at/en/terms_conditions


Kim Metzger
Mexico
Local time: 03:29
Native speaker of: Native in EnglishEnglish
PRO pts in category: 206
Grading comment
MANY, MANY THANKS!

Peer comments on this answer (and responses from the answerer)
agree  Derek Gill Franßen: ;-D
17 hrs
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Changes made by editors
Feb 16, 2009 - Changes made by Kim Metzger:
Edited KOG entry<a href="/profile/674364">Prevodi ORBIS's</a> old entry - "wegen Verkürzung über die Hälfte" » "gross disparity"


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