"effet novatoire du compte courant"
| 07:54 Jul 30, 2015 |
|
| French to English translations [PRO] Bus/Financial - Finance (general) / clearing of cheques/bills of exchange | |||||||
|---|---|---|---|---|---|---|---|
|
| ||||||
| Summary of answers provided | ||||
|---|---|---|---|---|
| 4 | novatory effect on the current account |
| ||
| 3 | banker's setoff/ current account setoff |
| ||
| 3 | transfer by novation |
|
| Discussion entries: 3 | |
|---|---|
Answers
3 hrs confidence: 
banker's setoff/ current account setoff Explanation: Set-off rights may arise between two parties who owe each other monetary debts. A right of set-off allows one of the parties (the debtor) to apply the amount owed to it by the other party (the creditor) against the amount the debtor owes to the creditor, enabling the debtor to reduce or extinguish its liability. Unless otherwise agreed by the parties, banks have a general right to combine two or more accounts held by the same entity. This means that they can set-off a debit balance on one account against a credit balance on another. The types of account which can be combined are limited. For example, there is no right to combine a loan account with a current account because they are of different characters. For this reason, some commentators have begun to refer to 'current account set-off' instead of 'bankers' set-off'. Reference: http://https://www.lexisnexis.com/uk/lexispsl/bankingandfina... |
| |
| Login to enter a peer comment (or grade) | ||
4 hrs confidence:
| effet novatoire du compte courant transfer by novation Explanation: "It shall be agreed expressly, that transfer by novation of the current account shall only come into play once the usual verifications have been carried out." May this work will help : Understanding International Bank RiskPublished Online: 15 APR 2013. http://onlinelibrary.wiley.com/doi/10.1002/9781118673294.glo... Novation. The transfer of rights and obligations from one entity to another, for example following the substitution of a new debtor for an old debtor or of one bank for another under a loan facility by way of substitution (transfer) certificate. Novation agreement. A document which formally concludes the sale and transfer (by novation) of all rights and obligations from an existing lender to a new lender. Seems to match quite well the definition you have whereby there is "remplacement d'une obligation par une autre". |
| |
| Login to enter a peer comment (or grade) | ||
19 hrs confidence:
novatory effect on the current account Explanation: Why avoid the obvious? The term "novatory effect" certainly appears in legal treatises on Roman law (have a look at the Google Books titles turned up by a search on the phrase). It is evidently alive in French law also. So what if the adjectival term is rarely or never heard or seen in the contemporary Anglosphere. Novation (the noun and the concept) *has* been incorporated into common law. And the source text here is about a civil-law jurisdiction, after all. |
| |
| Login to enter a peer comment (or grade) | ||
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.
See also:
Search millions of term translations