JURIDICAL TRANSACTION Meaning and
Definition
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A juridical transaction is a legal term that encompasses any action or agreement that involves the exercise of legal rights or the creation, modification, or termination of legal relationships between two or more parties. It is a broad term that covers a wide range of activities, including contracts, sales, leases, loans, donations, and many others.
These transactions are guided by the principles and rules of law, contract law in particular, which dictate the rights and obligations of the involved parties. A juridical transaction requires the consent of all parties involved and is typically enforceable by law.
One essential characteristic of a juridical transaction is its legal effect. It produces certain consequences, such as the transfer of ownership, the establishment of contractual obligations, or the compliance with legal requirements. It has the power to create, modify, or extinguish legal rights and duties.
Moreover, a juridical transaction generally requires the compliance with legal formalities, such as the drafting of written agreements, the inclusion of specific clauses, or the registration with relevant authorities. Failure to comply with these formalities may result in the invalidity or unenforceability of the transaction.
In summary, a juridical transaction refers to any action or agreement that involves the exercise of legal rights and creates, modifies, or terminates legal relationships. These transactions are governed by the principles and rules of law and require the consent of the involved parties. They typically have certain legal effects and may require compliance with specific legal formalities.
Common Misspellings for JURIDICAL TRANSACTION
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- jueidical transaction
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Etymology of JURIDICAL TRANSACTION
The word "juridical" originates from the Latin word "iuridicus", which is derived from "iuris" meaning "law" and "dicere" meaning "to say" or "to speak". Therefore, "juridical" refers to anything related to law or legal matters.
The term "transaction" comes from the Latin word "transactio", which is derived from "transigere" meaning "to drive through" or "to complete". In a legal context, a transaction typically refers to an agreement or exchange that produces legal consequences between two or more parties.
Therefore, the term "juridical transaction" combines the concepts of law and legal agreements or exchanges, denoting a legal action or a formal process occurring within a legal framework.
