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abstraktes Schuldversprechen

English translation: unconditional promise to pay or promissory note

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:abstraktes Schuldversprechen
English translation:unconditional promise to pay or promissory note
Entered by: Dr. Fred Thomson
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13:02 Sep 19, 2007
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: abstraktes Schuldversprechen
Es handelt sich um eine Sicherungszweckvereinbarung.
Taucht mehrmals auf:

"Die Grundschuld and das abstrakte Schuldversprechen besichern alle bestehenden and
zukunftigen Anspruche des Darlehensgebers gegen den Darlehensnehmer, die sich aus and in
Verbindung mit dem Darlehensvertrag and den anderen Finanzierungsdokumenten
ergeben"

"Vollstreckung der Grundschuld and des abstrakten Schuldversprechens"

"Der Sicherungsnehmer setzt den Sicherungsgeber schriftlich mit einer Frist von 7 (sieben)
Tagen Ober die Vollstreckung der Grundschuld und/oder des abstrakten Schuldversprechens
in Kenntnis."

Ich kann nur "promise to pay" dazu finden, aber was ist mit dem abstraktem? Oder gibt es das im Englischen nicht?
Michaela Pschierer-Barnfather
United Kingdom
Local time: 09:15
absolute promise to pay
Explanation:
unadulerated promise to pay

--------------------------------------------------
Note added at 4 mins (2007-09-19 13:06:15 GMT)
--------------------------------------------------

unconditional promise to pay might be better

--------------------------------------------------
Note added at 5 mins (2007-09-19 13:07:11 GMT)
--------------------------------------------------

In the US we might simply call it a promissory note.
Selected response from:

Dr. Fred Thomson
United States
Local time: 02:15
Grading comment
Thank you! I chose "unconditional promise to pay"
3 KudoZ points were awarded for this answer

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Summary of answers provided
4unilateral, free-standing covenant (common assumpsit)xxxAdrian MM.
3 +1absolute promise to pay
Dr. Fred Thomson


  

Answers


3 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
Abstraktes Schuldversprechen
absolute promise to pay


Explanation:
unadulerated promise to pay

--------------------------------------------------
Note added at 4 mins (2007-09-19 13:06:15 GMT)
--------------------------------------------------

unconditional promise to pay might be better

--------------------------------------------------
Note added at 5 mins (2007-09-19 13:07:11 GMT)
--------------------------------------------------

In the US we might simply call it a promissory note.

Dr. Fred Thomson
United States
Local time: 02:15
Specializes in field
Native speaker of: English
PRO pts in category: 463
Grading comment
Thank you! I chose "unconditional promise to pay"

Peer comments on this answer (and responses from the answerer)
agree  Patricia Veghelyi: Discrete debt obligation
5 hrs
  -> Thank you
Login to enter a peer comment (or grade)

2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
unilateral, free-standing covenant (common assumpsit)


Explanation:
a.k.a. konstitutiv as creates its own obligation, whereas a Schuldanerkenntnis (express assumpsit) acknowledges a past debt based on consideration.

By § 780 BGB, it must be in writing - covenant must be by deed.

Common and express assumpsits were abolished in the UK 200 years ago.

Example sentence(s):
  • Ein abstraktes Schuldversprechen ist ein Vertrag, in welchem eine Leistung in der Weise versprochen wird, daß das Versprechen den Anspruch selbständig ...

    Reference: http://www.onlinerecht24.de/vertragl/abgrenzung1.html
xxxAdrian MM.
Local time: 10:15
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 572
Login to enter a peer comment (or grade)




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Changes made by editors
Sep 20, 2007 - Changes made by Dr. Fred Thomson:
Created KOG entryKudoZ term » KOG term
Sep 19, 2007 - Changes made by Steffen Walter:
Term askedAbstraktes Schuldversprechen » abstraktes Schuldversprechen


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