ASSERTORY COVENANT Meaning and
Definition
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An assertory covenant is a legal term used to describe a promise or agreement made between two parties that affirms the truthfulness or accuracy of certain statements or representations. It is a type of covenant that declares or asserts a fact, condition, or state of affairs to be true or existing. The term "assertory" itself refers to a statement or proposition that is assertive or affirmative in nature.
In legal contexts, assertory covenants often arise in contracts or agreements where one party makes a declaration or assertion about a particular fact or state of affairs. These covenants are binding and enforceable, as they create legally oblige the person making the assertion to substantiate the claim if disputes arise.
For example, in a real estate purchase agreement, the seller may include an assertory covenant stating that the property is free from any encumbrances or outstanding debts. By including this covenant, the seller affirms the truthfulness of this statement and assumes the responsibility to rectify any issues that may later arise if it is found to be false.
It is important to note that an assertory covenant differs from a promissory covenant, which involves a promise to undertake specific actions or obligations in the future. In contrast, an assertory covenant is concerned with the truthfulness or accuracy of factual statements or representations.
Etymology of ASSERTORY COVENANT
The word "assertory" comes from the Latin word "assertorius", which means "declaratory" or "affirmative". The word "covenant" has its roots in the Latin word "convenire", which means "come together" or "agree". In legal terms, a covenant refers to a formal agreement or promise between two or more parties.
When combined, the term "assertory covenant" is often used in legal contexts to describe a covenant or contractual provision that confirms or affirms a fact or condition. It is a covenant that asserts or declares something to be true or in existence.
