10 Civil Law Terms That Everyone Has Heard Of

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Find out their correct interpretations
Civil law is the most important branch of law. Shopping in a store, going to the cinema, mobile communications and the Internet - all this is regulated by the norms of civil law, we act according to these norms, sometimes without even knowing about it. Surely, you have heard such words as force majeure, expropriation, emancipation. And what do they mean in civil law? Or what is endorsement and right of resale?

Test yourself: we have selected ten frequently used civil law terms for you.

1. Emancipation is the declaration of a minor who has reached the age of 16 as fully capable (that is, capable of exercising civil rights and fulfilling obligations through his actions).

2. An endorsement is a special transfer inscription placed by argentina phone number lead the bill holder on the bill, by means of which all rights under the bill are transferred to another person.

3. A sham transaction is a transaction concluded only for appearance's sake, without the intention of creating the corresponding legal consequences.

4. Expropriation is a forced, gratuitous or compensated seizure or alienation of property carried out by the state. Expropriation with payment of compensation is called requisition, and without payment - confiscation.

5. An indivisible thing is a thing whose division in kind is impossible without destruction, damage to the thing or change of its purpose and which acts in circulation as a single object of property rights, even if it has component parts (for example, a car).

6. A onerous transaction is a transaction on extremely unfavorable terms that a person was forced to enter into due to a combination of difficult circumstances, which the other party took advantage of.

7. Escheat property is the inherited property of the deceased, which in cases provided by law (absence of heirs, none of the heirs accepted the inheritance, etc.) becomes the property of the Russian Federation, a constituent entity of the Russian Federation, or a municipality.

8. Customary business practices are rules that are not provided for by law, but have developed and are widely used in any area of ​​activity - not only in business, but also in other areas, for example, determining the procedure for citizens to use common property, fulfilling certain obligations.

9. The right of resale is the right of the author, in each resale of the original work of fine art, as well as the author's manuscripts of literary and musical works, in which an intermediary participates, to receive remuneration from the seller in the form of a percentage of the resale price.

10. Force majeure (in the Civil Code of the Russian Federation – force majeure) is an extraordinary and unavoidable circumstance that makes it impossible to properly fulfill an obligation (for example, natural disasters).