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PAIRING-OFF

Categories: Contracts

Definition (1910 Edition)

Origin: Civil Law

without any consideration for it, and therefore not enforceable—Pactum constituts pecunis. In the civil law. An agreement by which a person appointed to his creditor a certain day or a certain time at which he promised to pay; or an agreement by which a person promises to pay a creditor. Wharton.--Pactum de non enando. A pact or agreement binding the owner of property not to alienate it, intended to protect the interests of another; particularly an seroement by the mortgagor of real estate that he wil] not transfer the title to a third person until after satisfaction of the mortgage. See Mackeld. Rom. Law, § 461.— Pactum de non petendo. In the civil law. An agreement not to sue. <A simple convention whereby a creditor promises the debtor that he will not enforce his claim. Mackeld.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.