Legal Definitions - debitum in diem

Definition: Debitum in diem (deb-i-təm in dI-əm) is a Latin term that means "a debt to a date." It refers to a debt that is payable at a future date.

Example: If you borrow money from a friend and agree to pay it back in six months, you have a debitum in diem. The debt is due on a specific date in the future, and you are obligated to pay it back by that date.

Explanation: The example illustrates the definition of debitum in diem because it shows a situation where a debt is owed but the payment is not due immediately. The debtor has a specific date by which they must pay the debt, and until that date arrives, the creditor cannot demand payment.

Definition: Ubi dies cessit, licet nondum venerit (yoo-bi dI-eez ses-it, lI-set non-dəm və-neer-it) is a Latin term that means "in the case where the time has arrived at which money is due, although that time has not arrived at which it may be exacted." It refers to a situation where a debt is due but cannot be collected until a later date.

Example: If you owe money on a credit card and the due date is in two weeks, the creditor cannot demand payment until that due date arrives. However, the debt is still considered to be due because the time for payment has arrived.

Explanation: The example illustrates the definition of ubi dies cessit, licet nondum venerit because it shows a situation where a debt is due but cannot be collected until a later date. The creditor cannot demand payment until the due date arrives, but the debtor is still obligated to pay the debt because the time for payment has already arrived.