Requirement

A “requirement” is something which is needed before a particular result follows or a particular right can be exercised.

Resolutive

A condition is “resolutive” if it causes a legal relationship or effect to come to an end when the condition is satisfied. (III. – 1:106)

Retention of ownership device

There is a retention of ownership device when ownership is retained by the owner of supplied assets in order to secure a right to performance of an obligation. (IX. – 1:103)

Revocation

“Revocation”, means (a) in relation to a juridical act, its recall by a person or persons having the power to recall it, so that it no longer has effect and (b) in relation to something conferred or transferred, its recall, by a person or persons having power to recall it, so that it comes back or must be returned to the person who conferred it or transferred it.

Right

“Right”, depending on the context, may mean (a) the correlative of an obligation or liability (as in “a significant imbalance in the parties’ rights and obligations arising under the contract”); (b) a proprietary right (such as the right of ownership); (c) a personality right (as in a right to respect for dignity, or a right to liberty and privacy);

(d) a legally conferred power to bring about a particular result (as in “the right to avoid” a contract); (e) an entitlement to a particular remedy (as in a right to have performance of a contractual obligation judicially ordered) or (f) an entitlement to do or not to do something affecting another person’s legal position without exposure to adverse consequences ( as in a “right to withhold performance of the reciprocal obligation”).

Sale, contract for

A contract for the “sale” of goods or other assets is a contract under which one party, the seller, undertakes to another party, the buyer, to

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transfer the ownership of the goods or other assets to the buyer, or to a third person, either immediately on conclusion of the contract or at some future time, and the buyer undertakes to pay the price. (IV. A. – 1:202)

Security right in movable asset

A security right in a movable asset is any limited proprietary right in the asset which entitles the secured creditor to preferential satisfaction of the secured right from the encumbered asset. (IX. – 1:102(1))

Services, contract for

A contract for services is a contract under which one party, the service provider, undertakes to supply a service to the other party, the client. (IV. C. – 1:101)

Set-off

“Set-off” is the process by which a person may use a right to performance held against another person to extinguish in whole or in part an obligation owed to that person. (III. – 6:101)

Signature

“Signature” includes a handwritten signature, an electronic signature or an advanced electronic signature. (I. – 1:108(2))

Solidary obligation

An obligation owed by two or more debtors is a “solidary obligation” when all the debtors are bound to render one and the same performance and the creditor may require it from any one of them until there has been full performance. (III. – 4:102(1))

Solidary right

A right to performance held by two or more creditors is a “solidary right” when any of the creditors may require full performance from the debtor and the debtor may render performance to any of the creditors. (III. – 4:202(1))

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Standard terms

“Standard terms” are terms which have been formulated in advance for several transactions involving different parties, and which have not been individually negotiated by the parties. (II. – 1:109)

Storage, contract for

A contract for storage is a contract under which one party, the storer, undertakes to store a movable or incorporeal thing for another party, the client. (IV. C. – 5:101)

Subrogation

“Subrogation”, in relation to rights, is the process by which a person who has made a payment or other performance to another person acquires by operation of law that person’s rights against a third person.

Substitution of debtor

“Substitution” of a debtor is the process whereby, with the agreement of the creditor, a third party is substituted completely or incompletely for the debtor, the contract remaining in force. (III. – 5:202) See also “complete substitution of debtor” and “incomplete substitution of debtor”.

Supply

To “supply” goods or other assets means to make them available to another person, whether by sale, gift, barter, lease or other means: to “supply” services means to provide them to another person, whether or not for a price. Unless otherwise stated, “supply” covers the supply of goods, other assets and services.

Suspensive

A condition is “suspensive” if it prevents a legal relationship or effect from coming into existence until the condition is satisfied. (III. – 1:106)

Tacit prolongation

“Tacit prolongation” is the process whereby, when a contract provides for continuous or repeated performance of obligations for a

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definite period and the obligations continue to be performed by both parties after that period has expired, the contract becomes a contract for an indefinite period, unless the circumstances are inconsistent with the tacit consent of the parties to such prolongation. (III. – 1:111)

Term

“Term” means any provision, express or implied, of a contract or other juridical act, of a law, of a court order or of a legally binding usage or practice: it includes a condition.

Termination

“Termination”, in relation to an existing right, obligation or legal relationship, means bringing it to an end with prospective effect except in so far as otherwise provided.

Textual form

In “textual form”, in relation to a statement, means expressed in alphabetical or other intelligible characters by means of any support which permits reading, recording of the information contained in the statement and its reproduction in tangible form. (I. – 1:107(2))

Transfer of contractual position

“Transfer of contractual position” is the process whereby, with the agreement of all three parties, a new party replaces an existing party to a contract, taking over the rights, obligations and entire contractual position of that party. (III. – 5:302)

Treatment, contract for

A contract for treatment is a contract under which one party, the treatment provider, undertakes to provide medical treatment for another party, the patient, or to provide any other service in order to change the physical or mental condition of a person. (IV. C. – 8:101)

Trust

A “trust” is a legal relationship in which a trustee is obliged to administer or dispose of one or more assets (the trust fund) in ac-

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