GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||
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13:50 Nov 14, 2001 |
German to English translations [PRO] Law/Patents | |||||||
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| Selected response from: Beate Lutzebaeck New Zealand Local time: 06:46 | ||||||
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Summary of answers provided | ||||
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4 | executory transaction |
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4 | obligatory contract |
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4 | transaction imposing a(n legal) obligation |
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executory transaction Explanation: Also obligation establishing transaction Hamblock/Wessels - Gro�w�rterbuch Wirtschafts Englisch |
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obligatory contract Explanation: Schäfer: Wirtschaftswörterbuch |
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transaction imposing a(n legal) obligation Explanation: Hello Catriona, A Verpflichtungsgeschäft is a legal transaction that subjects a party to an obligation (to perform an act (Leistung) or to refrain from performing an act (Unterlassen)). "Obligation" is defined as a "legal requirement that one perform or refrain from performing some act..." (Webster's Dictionary of the Law). It is really quite difficult to find a suitable equivalent in English here, as the German term is based on the fictitious split between Verpflichtungsgeschäft and Verfügungsgeschäft (which creates the change in legal status intended by the Verpflichtungsgeschäft), the so-called Abstraktionsprinzip under German law which doesn't exist under Anglo-Saxon law. I guess "transaction imposing an obligation" represents the concept of Verpflichtungsgeschäft as closely as possible without getting to much into the nitty gritty of legal theory. From what I can gather, "contractual trade" doesn't sound right - with a bit more context I might be able to give you a better answer. Creifelds, Rechtsw�rterbuch |
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