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The price of 100.

Part of estate in excess of the legitimate portion The assets you leave will be divided into the indefeasible share of spouse and issue and the part of the estate in excess of the legitimate portion. The latter is the inheritance that the testator is free to dispose of by will, cf. part 10 the Danish Inheritance Act.

Partial administration Administration where part of the estate of a deceased person is administered and appropriated to some of the deceased’s issue, while the spouse retains undivided possession of their part of the estate, cf. section 18 of the Danish Inheritance Act.

Partnership When several persons jointly own a plurality of assets, e.g. a business. The owners are personally liable (i.e. to the extent of all their assets) and jointly and severally liable (each individually to the extent of all his/her assets) for the partnership’s debt. Unlike joint ownership, the individual partner’s creditors cannot levy execution on the assets of the partnership but only on the partner’s undivided share of the partnership. A partnership is dissolved under section 82 of the Danish 1874 Administration of the Estates of Deceased Persons Act, i.e. in accordance with the rules applying to the estates of deceased persons before 1997.

Patent Exclusive right that may be granted by the patent authorities.

Pathological intoxication When a person suffers an extreme reaction to the intake of alcohol. The intoxication is usually very strong even with little drinking. Is rarely acknowledged by the courts.

Payee The person who is to receive payment according to a bill of exchange. The drawer (the issuer of a bill of exchange) requests the drawee to pay to the payee (creditor

Payment falling due on change of ownership Extraordinary repayment on a mortgage on a change of ownership.

Per annum Per year. Is especially used about interest.

Period for acceptance The period within which a recipient of an offer must reply, cf. section 2 et seq. of the Danish Contracts Act.

Permanent injury A non-economic injury causing inconvenience to the injured person. It is possible to obtain compensation for permanent injury.

Personal liability The debtor is liable to the extent of all its assets.

Personal renunciation of inheritance A renunciation of inheritance with no legal effect on the issue of the person renouncing inheritance. 

Plaintiff The person or group of persons initiating legal proceedings by issuing a writ of summons to the court against another party (e.g. a person, a business or an authority).

Pleadings Designation of the parties’ written pleadings during proceedings – writ of summons, defence, reply, joinder and any additional exchange of written comments.

Pledge Something (movable property) given as security. The pledgor is deprived of the opportunity to make decisions on the pledged property.

Plot ratio Built-up floor area of a property expressed as a percentage. Maximum plot ratios are laid down in local plans etc.


Til top Sidst opdateret: 11-01-2010 
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