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Vermögensverfall + Schuldnerverzug

English translation: see below

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11:16 Aug 19, 2000
German to English translations [PRO]
Law/Patents
German term or phrase: Vermögensverfall + Schuldnerverzug
Aus wichtigen Grunden ist X zur Kündigung insbesondere dann berechtigt wenn der Auftraggeber in Vermögensverfall oder in Schuldnerverzug gerät.

I found
Vermögensverfall = dwindling of assets
Schuldnerverzug = debtor's delay (in tendering performance)
but I can't seem to get a flowing sentence together.
Michael Dollman
English translation:see below
Explanation:
Vermoegensverfall-decline of assets,
(Verfall von Vermoegen: dissolution, decline, decay; in Verfall geraten: to fall into . . . .) whether asset is the
right translation, the context would have to determine it, because assets means strictly "bewegliches Vermoegen"
vs. "unbewegliches Vermoegen" (i.e.
real estate--also called fixed assets
instead of property).Bei Geld und Gut
Vermoegen wird als "means, welth, substance" etc. uebersetzt, aber nicht
mit "assets." Now, there is such a thing
as "asset decline" in American banking
lingo or "decline of ones financial situation."

Schuldnerverzug-- defaulting debtor or
debtor's default (Muret-Sanders). Genereally, however, one calls it simply
"default," the debtor part is impl.
understood. Only one who ows something
can get into default.


References: all suggestions came from
Muret-Sanders.
Selected response from:

Elisabeth Moser
United States
Local time: 15:11
Grading comment
Thanks for this comprehensive explanation.
4 KudoZ points were awarded for this answer

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Summary of answers provided
nasee belowDan McCrosky
nasee below
Elisabeth Moser
nasee belowRandi Stenstrop
naabandonment of property + default / delay of debtor (to pay)
Parrot


  

Answers


30 mins
abandonment of property + default / delay of debtor (to pay)


Explanation:
Cf. Vermögensverlust (loss of property)
Vermögen = fortune, goods. Verfall = abandonment
Schuldner = debtor. Verzug = delay.


    Herder
Parrot
Spain
Local time: 21:11
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 315
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38 mins
see below


Explanation:
I would translate this Isolated sentence as follows:

X shall be entitled to cancel (the contract?) if he has good reason to do so, particularly if the orderer's assets are significantly reduced or if payments are delayed.

- assuming it is from a contract or a similar document.

I hope this is helpful.

Regards
Randi


Randi Stenstrop
Local time: 21:11
Native speaker of: Native in DanishDanish
PRO pts in pair: 265
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4 hrs
see below


Explanation:
Vermoegensverfall-decline of assets,
(Verfall von Vermoegen: dissolution, decline, decay; in Verfall geraten: to fall into . . . .) whether asset is the
right translation, the context would have to determine it, because assets means strictly "bewegliches Vermoegen"
vs. "unbewegliches Vermoegen" (i.e.
real estate--also called fixed assets
instead of property).Bei Geld und Gut
Vermoegen wird als "means, welth, substance" etc. uebersetzt, aber nicht
mit "assets." Now, there is such a thing
as "asset decline" in American banking
lingo or "decline of ones financial situation."

Schuldnerverzug-- defaulting debtor or
debtor's default (Muret-Sanders). Genereally, however, one calls it simply
"default," the debtor part is impl.
understood. Only one who ows something
can get into default.


References: all suggestions came from
Muret-Sanders.


    Muret-Sanders
Elisabeth Moser
United States
Local time: 15:11
Native speaker of: Native in GermanGerman
PRO pts in pair: 772
Grading comment
Thanks for this comprehensive explanation.
Login to enter a peer comment (or grade)

5 hrs
see below


Explanation:

Thinking of the answer you chose to the previous question, I might continue on as follows:

"...No termination of the contract is possible without due cause. In particular however, X shall have the right to terminate the contract in the case of (impending) financial collapse/insolvency/sharp decline in asset values/dwindling assets/disintegration of assets or delay in payment…"

The terminology is form Zahn, Hamblock/Wessels, Eichborn and Romain

- HTH - Dan


Dan McCrosky
Local time: 21:11
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1541
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