ASSUMPSITS Meaning and
Definition
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Assumpsits is a legal term derived from the Latin phrase "assumpsit" meaning "he has undertaken" or "he assumed." It refers to a type of contractual action, encompassing various implied promises or undertakings that form the basis of a contract or agreement between two or more parties. In English law, assumpsits were commonly used in actions involving breach of contract.
Assumpsits can be understood as the voluntary assumption of an obligation or promise by one party towards another, whether expressly stated or implied. It implies a clear intent to be legally bound by the terms of the contract, creating legally enforceable rights and liabilities. These undertakings can be either oral or written, as long as they meet the essential elements of a contract such as offer, acceptance, consideration, and intention to create legal relations.
In legal proceedings, assumpsits allow a party to claim damages for breach of contract. If one party fails to fulfill their obligations as agreed upon, the injured party has the right to seek compensation for any loss or harm suffered due to the breach.
Assumpsits have evolved over time and are now primarily regulated by statute and precedents in most common law jurisdictions. Today, assumpsits are frequently used interchangeably with the broader term "breach of contract," referring to any violation or failure to perform the terms of an agreement.
Common Misspellings for ASSUMPSITS
- zssumpsits
- sssumpsits
- wssumpsits
- qssumpsits
- aasumpsits
- azsumpsits
- axsumpsits
- adsumpsits
- aesumpsits
- awsumpsits
- asaumpsits
- aszumpsits
- asxumpsits
- asdumpsits
- aseumpsits
- aswumpsits
- assympsits
- asshmpsits
- assjmpsits
- assimpsits
Etymology of ASSUMPSITS
The word "assumpsits" is derived from the Latin term "assumpsit", which means "he or she undertook" or "he or she assumed". "Assumpsit" is the past tense of the Latin verb "assumere", which combines "ad" (to) and "sumere" (to take).
In English law, "assumpsit" originally referred to a type of action in breach of contract. Over time, the word "assumpsits" started being used as shorthand for these actions. The plural form of "assumpsit" led to the development of the plural term "assumpsits". While "assumpsits" is not widely used in modern legal terminology, it retains its historical significance in the study of contract law.
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