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término para su prescripción

English translation: prescription or extinguishment period

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:término para su prescripción
English translation:prescription or extinguishment period
Entered by: Robert INGLEDEW
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20:42 Jun 5, 2002
Spanish to English translations [PRO]
Law/Patents / Bankruptcy
Spanish term or phrase: término para su prescripción
This phrase appears in a letter from a law firm to its business client regarding another corporation's bankruptcy:

-Pregunta: "Se extinguen sus obligaciones?"

-Respuesta: "En términos generales, sus obligaciones persisten... El síndico en la quiebra distribuye el producto de la liquidación de sus bienes entre sus acreedores... El saldo no cubierto persiste hasta el ***término para su prescripción."
Lee Penya
Local time: 10:29
prescription or extinguishment period
Explanation:
Normally 5 years in Argentina, counted from the date on which the liability or obligation was due.
Selected response from:

Robert INGLEDEW
Argentina
Local time: 12:29
Grading comment
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +5prescription or extinguishment period
Robert INGLEDEW
5 +1the statute of limitationstransword
4 +1until the term of the Statute of Limitations
Parrot


  

Answers


2 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
prescription or extinguishment period


Explanation:
Normally 5 years in Argentina, counted from the date on which the liability or obligation was due.

Robert INGLEDEW
Argentina
Local time: 12:29
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 1940

Peer comments on this answer (and responses from the answerer)
agree  Antonio Costa
5 mins
  -> Gracias, Antonio.

agree  Gabriel Aramburo Siegert
8 mins
  -> Gracias, Gabriel.

agree  Paulina Gómez
3 hrs
  -> Gracias, Paulina.

agree  Сергей Лузан
10 hrs
  -> Gracias, Ñåðãåé Ëóçàí

agree  Lorianne Weston: prescription is the preferable generic term. Statute of Limitations is a U.S. concept.
14 hrs
  -> Thank you, Lorianne.
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
until the term of the Statute of Limitations


Explanation:
The Statute of Limitations is a fiscal/tax law that imposes a 5-year period on debts and inspections.

Parrot
Spain
Local time: 17:29
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 7645

Peer comments on this answer (and responses from the answerer)
agree  Сергей Лузан: Legalese exolanation of the terms.
9 hrs
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4 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +1
the statute of limitations


Explanation:
it is the term for a debt or duty of any kind, after which no liability may be demanded

transword
Local time: 17:29
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 68

Peer comments on this answer (and responses from the answerer)
agree  Сергей Лузан: More general legalese exolanation of the terms.
6 hrs
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