dation en paiement

Definition of "dation en paiement"
  1. An approach to settle a debt where the debtor provides something different from the original form of payment to the creditor, with their agreement, and this fulfills the debt
How to use "dation en paiement" in a sentence
  1. Due to financial difficulties, the company agreed to a dation en paiement to settle their debt by transferring property instead of the previously agreed-upon cash payment.
  2. In an unusual turn of events, the debtor proposed a dation en paiement, which involved delivering artwork instead of money to satisfy the outstanding debt.
  3. The creditor accepted the dation en paiement offered by the debtor, where the debtor's antique car was accepted as payment of the loan instead of money.

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