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rilasciare idonee quietanze liberatorie

English translation: provide appropriate release(s)

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:rilasciare idonee quietanze liberatorie
English translation:provide appropriate release(s)
Entered by: xxxDCypher
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16:07 Mar 31, 2007
Italian to English translations [PRO]
Law/Patents - Law: Contract(s)
Italian term or phrase: rilasciare idonee quietanze liberatorie
For the legal illuminati...

I am not looking for a dictionary definition or beginner's guide to the term quietanza. What I would like is if someone can confirm the scope of it in this context.

This is a share purchase agreement. Once payment is made, the seller release claims against the purchaser. I understand this to be "financial" claims (specifically related to the purchase consideration. The flavour word 'idonee' would seem to confirm it for this context.

1) am I correct?
2) can someone suggest elegant phrasing (viz. simple yet effective)?

Sentence below. Many thx.

"Dei suddetti pagamenti il venditore si impegna a rilasciare al acquirente idonee quietanze liberatorie"
xxxDCypher
Local time: 09:20
give appropriate quittance in full discharge
Explanation:
Here's how I would translate the whole sentence:

"The seller agrees to give the buyer appropriate quittance in full discharge for the above payments/settlements."

It is quite literal, but that is the sense for how i see it.

HTH

Lea
Selected response from:

Leonarda Coviello
United Kingdom
Local time: 08:20
Grading comment
I am satisfied that this a formal "release " upon payment in full (standard clause in loan agreements for example) and that it is usual in Italy to provide a separate release document, beyond just stating the condition in the agreement.

Many thanks.
2 KudoZ points were awarded for this answer

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Summary of answers provided
5issue full and valid receipts (for full payment of the consideration)
James (Jim) Davis
3The seller undertakes to provide the purchaser with debt-paying receipts
Gad Kohenov
3give appropriate quittance in full discharge
Leonarda Coviello


Discussion entries: 1





  

Answers


15 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
give appropriate quittance in full discharge


Explanation:
Here's how I would translate the whole sentence:

"The seller agrees to give the buyer appropriate quittance in full discharge for the above payments/settlements."

It is quite literal, but that is the sense for how i see it.

HTH

Lea

Leonarda Coviello
United Kingdom
Local time: 08:20
Works in field
Native speaker of: Native in ItalianItalian
PRO pts in category: 46
Grading comment
I am satisfied that this a formal "release " upon payment in full (standard clause in loan agreements for example) and that it is usual in Italy to provide a separate release document, beyond just stating the condition in the agreement.

Many thanks.
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44 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
The seller undertakes to provide the purchaser with debt-paying receipts


Explanation:
Another possibility.

Gad Kohenov
Israel
Local time: 10:20
Specializes in field
Native speaker of: Native in FrenchFrench, Native in HebrewHebrew
PRO pts in category: 258
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30 mins   confidence: Answerer confidence 5/5
issue full and valid receipts (for full payment of the consideration)


Explanation:
This doesn't go any further than saying this is a receipt for the full price of the shares and this receipt says I can't ask you for anything more in consideration from those shares. Put it in modern or old style English, makes little difference.
This needs correcting Paul, don't understand it:
"Once payment is made, the seller release claims against the purchaser."

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Note added at 1 hr (2007-03-31 17:12:56 GMT)
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Its just a receipt. If the seller does not have full title to the shares, I don't think this will free the purchaser from claims by another party with a claim on the shares. If you stole my shares and sold em to somebody else, then the true owner has original title to them. It wouldn't work like a bill of exchange.

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Note added at 1 hr (2007-03-31 17:17:21 GMT)
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Scratch that last sentence.

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Note added at 11 hrs (2007-04-01 03:49:12 GMT)
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After 500 words yesterday, I was simply going on memory my TM gives (signatory powers):

firma di girata e quietanza su cambiali, vaglia e assegni;
endorsements and receipt signatures on bills of exchange, money orders and cheques;

firmare tratte come traente sui clienti della società, quietanzare cambiali e titoli all’ordine,
to sign drafts as the drawer on the customers of the company, to give receipts for bills of exchange

Google
release "bills of exchange"
http://www.google.com/search?num=100&hl=en&safe=off&q=releas...

receipt "bills of exchange"
http://www.google.com/search?num=100&hl=en&safe=off&q=receip...

Australia:
Application of State laws PART II--BILLS OF EXCHANGE Division 1--Form and ... Payment of unindorsed cheque or draft as evidence of receipt by payee 88D




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Note added at 11 hrs (2007-04-01 03:50:08 GMT)
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I've researched this in the past. Of course what you remember is the conclusion: "receipt"

James (Jim) Davis
Seychelles
Local time: 11:20
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1337
Notes to answerer
Asker: for "X to release all [financial] claims against Y" is a standard release of liability phrasing. But I use it here for explanatory purposes only. Sorry if it is not clear.

Asker: But the seller the purchaser of all "liabilities" it is releasing the purchaser of liabilities towards it, the seller. And I have never heard of issuing a receipt in such situations (this was my field) the banks do that. I guess I wanted to understand if "quietanza" is limited (as a general term) to financial liabilities or if could refer liabilities of another nature.

Asker: "la quietanza libera il debitore". Here is my answer. It is a release (which may contain details of final payment, but in this case not applicable). And that is what I would expect. It also seems to appear only in the context of a debt.

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