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|Italian to English translations [PRO]|
Law/Patents - Law (general) / Company Articles of Association
|Italian term or phrase: obbligazioni anche cambiarie|
|The phrase is in the section dealing with the 'Powers of the Sole Director'|
The full paragraph reads:
"L'Amministratore Unico ha il potere di procedere ad acquisti di immobilizzazione o beni immateriali, la concessione di garanzie reali in favore di terzi, la facolta' di assumere obbligazioni anche cambiarie, stipulare mutui."
I know that the term 'obbligazioni cambiarie' refers to bills of exchange. However, it appears that the sense of the term is slightly different. My understanding is that the Sole Director can undertake 'obbligazioni' including 'obbligazioni cambiarie'.
Could anyone suggest the meaning of this phrase in this context?
|liabilities also on bills of exchange|
Your understanding of the context is absolutely correct:
the Sole Director
"has the power to undertake liabilities, also on bills of exchange,"
In other words he has the power to undertake "obbligazioni" including "obbligazioni cambiarie".
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Local time: 07:55
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obligations/liabilities even issue negotiable instruments
AU titolo di credito con cui ci si obbliga a pagare o a far pagare una somma di denaro entro la data, nel luogo e alla persona indicati sul documento: firmare, rilasciare, pagare, riscuotere una c.; accettare una c., sottoscriverla, riconoscendosi debitore e obbligandosi al pagamento; girare una c., firmarla a tergo passandola ad altri in pagamento; scontare una c., cederla ad altri per riscuotere la somma prima della scadenza, girandola e rilasciando un tanto di denaro detto sconto; protestare, mandare in protesto una c., notificarne per via legale il mancato pagamento; puntuale, preciso come una c., di persona puntualissima o di avvenimento ineluttabile | fig., estens., impegno, obbligo a cui non ci si può sottrarre: l’incontro con lui è una c. che prima o poi dovrò pagare [quadro 33]
Negotiable instruments covers both meanings in italian. A "cambiaria" = "credit instrument", a piece of paper that technically represents currency, such as checks, banknotes, promissory notes and bills of exchange
The two primary classes of negotiable instruments are 'promissory notes' and 'bills of exchange.'
 Promissory note
A promissory note is a written promise by the maker to pay money to the payee. The most common type of promissory note is a bank note, which is defined as a promissory note made by a bank and payable to bearer on demand.
 Bill of Exchange
A bill of exchange or "Draft" is a written order by the drawer to the drawee to pay money to the payee. The most common type of bill of exchange is the cheque, which is defined as a bill of exchange drawn on a banker and payable on demand. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date sometime in the future.
Prior to the advent of paper currency, bills of exchange were a more significant part of trade. They are a rather ancient form of instrument: they were used by medieval trade fairs, such as the Frankfurt Trade Fair.
This is a pretty typical phrase which I usually translate with "enter into agreements and even issue negotiable instruments and negotiate loans on behalf of the Company"
The reason for that is that no matter what the agreement may be, there are always liabilities ("obligations") of some kind written in for both parties i.e. contractor is obligated to provide services/buyer is obligated to pay for them
Bank has to provide the loan/company is to pay for it
Both parties are "liable" to perform according to the clauses of any contract/agreement/loan
| Rosanna Palermo|
Local time: 00:55
Works in field
Native speaker of: Italian, English
PRO pts in category: 244
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