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Schuldanerkenntnis

English translation: acknowledgement of debt; promissory note

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Schuldanerkenntnis
English translation:acknowledgement of debt; promissory note
Entered by: Beate Lutzebaeck
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22:59 May 24, 2002
German to English translations [PRO]
Law/Patents
German term or phrase: Schuldanerkenntnis
I found "acknowledgement of debt" in the glossary. Want to check if "promissory note" is another possibility.
helgro
Local time: 08:15
See explanation:
Explanation:
I think that a "promissory note" is one form of an acknowledgment of debt.

Promissory note is defined as "an instrument representing a promise to pay a sum of money, and often interest, to (or to the order of) the bearer or a named payee. A note is a negotiable instrument if it meets the requirements listed ..." (Webster's Dico of the Law).

Now, there may be other ways of acknowledging a debt than a promissory note, for example, an implied acknowledgment of debt where the account holder does not object against the information contained in a bank statement within the period of time specified for this purpose. Also, a promissory note is subject to certain formal requirements (for example, it has to be in writing => instrument), whereas afaik an acknowledgement of debt is not subject to any specific formal requirements. This is why I believe one is the sub-group of the other, and they are not synonyms.

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Note added at 2002-05-24 23:20:55 (GMT)
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And yes, if this hasn\'t become entirely clear in my explanation: Schuldanerkenntnis = acknowledgment of a debt (Dietl/Lorenz, Legal dico)

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Note added at 2002-05-24 23:54:54 (GMT)
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Just saw your note - well, in this case, I can\'t see any reason why you shouldn\'t be able to translate Schuldanerkenntnis a promissory note.
Selected response from:

Beate Lutzebaeck
New Zealand
Local time: 18:15
Grading comment
Thanks for the detailed explanation.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +2acknowledgement of debt
Regina Landeck
4 +1See explanation:Beate Lutzebaeck
4acknowledgement of indebtedness
Trudy Peters


Discussion entries: 1





  

Answers


5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
acknowledgement of indebtedness


Explanation:
is what Hamblock Wessels has for Schuldanerkennung
Also certificate/bond of indebtedness

Trudy Peters
United States
Local time: 02:15
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in pair: 3087
Login to enter a peer comment (or grade)

12 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
acknowledgement of debt


Explanation:
This is a specific legal instrument which takes the claim outside of the Statute of limitations (unterbricht die Verjährung), a promisory note on the other hand is just that, a promise to pay a debt - it can refer to an existing or future debt.

Regina Landeck
Local time: 00:15
Native speaker of: Native in GermanGerman
PRO pts in pair: 66

Peer comments on this answer (and responses from the answerer)
agree  Rod Darby: spot on, Regina!
6 hrs

agree  Petra Winter
7 hrs
Login to enter a peer comment (or grade)

18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
See explanation:


Explanation:
I think that a "promissory note" is one form of an acknowledgment of debt.

Promissory note is defined as "an instrument representing a promise to pay a sum of money, and often interest, to (or to the order of) the bearer or a named payee. A note is a negotiable instrument if it meets the requirements listed ..." (Webster's Dico of the Law).

Now, there may be other ways of acknowledging a debt than a promissory note, for example, an implied acknowledgment of debt where the account holder does not object against the information contained in a bank statement within the period of time specified for this purpose. Also, a promissory note is subject to certain formal requirements (for example, it has to be in writing => instrument), whereas afaik an acknowledgement of debt is not subject to any specific formal requirements. This is why I believe one is the sub-group of the other, and they are not synonyms.

--------------------------------------------------
Note added at 2002-05-24 23:20:55 (GMT)
--------------------------------------------------

And yes, if this hasn\'t become entirely clear in my explanation: Schuldanerkenntnis = acknowledgment of a debt (Dietl/Lorenz, Legal dico)

--------------------------------------------------
Note added at 2002-05-24 23:54:54 (GMT)
--------------------------------------------------

Just saw your note - well, in this case, I can\'t see any reason why you shouldn\'t be able to translate Schuldanerkenntnis a promissory note.


    Prof. exp. as German/NZ lawyer
Beate Lutzebaeck
New Zealand
Local time: 18:15
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in pair: 2079
Grading comment
Thanks for the detailed explanation.

Peer comments on this answer (and responses from the answerer)
agree  Dr. Fred Thomson: Given the context "promissory note" is better than "acknowledgement of indebtedness."
1 hr

neutral  Rod Darby: Darien, your first take was right (acknowledgement). A promissory note is an instrument, a banknote being a good example. The Schuldanerkenntnis is usually done before a notary public (had to do one myself once)
6 hrs
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