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Usenet Posted 21 years ago
Usage
Meaning of substance and commercial reality
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if say a business is said to incur a debt when, by its choice, it does or neglects to do something which, as a matter of substance and commercial reality, renders it liable for a debt for which it otherwise would not have been liable.
What does "as a matter of substance and commercial reality" mean in normal parlance?
Substance has many meanings, one of which means "gist" or "the idea intended" or does it mean "wealth or income, or considerable means"? Commercial means "commerce", used in commerce or commercial businesses and reality means the state of something as it really is rather than as you might want it to be?
if say a business is said to incur a debt when, by its choice, it does or neglects to do something which, as a matter of substance and commercial reality, renders it liable for a debt for which it otherwise would not have been liable.
What does "as a matter of substance and commercial reality" mean in normal parlance?
Substance has many meanings, one of which means "gist" or "the idea intended" or does it mean "wealth or income, or considerable means"? Commercial means "commerce", used in commerce or commercial businesses and reality means the state of something as it really is rather than as you might want it to be?
Top answer
[nq:1]if say a business is said to incur a debt when, by its choice, it does or neglects to do ... otherwise would not have been liable. e.
- [nq:1]if say a business is said to incur a debt when, by its choice, it does or neglects to do ...
- otherwise would not have been liable.
- e.
- it may have been drafted in this way so as to gain legal weight that common speech does not confer.
- Don Phillipson Carlsbad Springs (Ottawa, Canada)
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1 Answers
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[nq:1]if say a business is said to incur a debt when, by its choice, it does or neglects to do ... otherwise would not have been liable. What does "as a matter of substance and commercial reality" mean in normal parlance?[/nq]
This sounds like a legal document i.e. it may have been drafted in this way so as to gain legal weight that common speech does not confer.
Don Phillipson
Ca
This sounds like a legal document i.e. it may have been drafted in this way so as to gain legal weight that common speech does not confer.
Don Phillipson
Ca
0
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