Study Unit 12 Flashcards
What is a PACTUM SUCCESSORIUM?
-is a contract in which the parties attempt to regulate the devolution of the entire or part of the assets of one or both parties.
Plural Form:
Pacta Successoria
The origin:
The prohibition of the pacta successorium originates from the common law.
Literal translation of pacta successorium:
An agreement of succession
A pacta successorium is:
Is a bilateral juridicial act that operates succession consequences inter vivos
A TESTATOR USES A PACTA SUCCESSORIUM:
A testator uses a pacta successorium to commit himself or herself to give someone a share of his or her estate after his or her death.
TESTS USED TO IDENTIFY A PACTA SUCCESSORIUM:
- Absence of counter-performance
- revocability test
- restriction of freedom of testation
- vesting test
- intention test.
ABSENCE OF A COUNTER-PERFORMANCE
an agreement is an invalid pacta successorium unless it can be proven that a counter-performance has been given to the promisor
REVOCABILITY TEST
A pacta successorium fundamentally binds a promisor to the agreement
RESTRICTION OF FREEDOM OF TESTATION:
any contract that attempts to restrict a person’s freedom to dispose of his or her estate as he or she wishes is invalid and thus an invalid pacta successorium
VESTING TEST:
when a beneficiary that obtains a vested right immediately in terms of an agreement before the giver’s death, an invalid pacta successorium even if the use and enjoyment is postponed until death
INTENTION TEST
to determine whether the agreement is an invalid pacta successorium is the intention of the parties.