- A specific amount that is stated in a contract or negotiable instrument (e.g., a promissory note) at the time the document is written and is not dependent on a future calculation or a future event. Engaging someone to do a task for a stated fee-as opposed to an hourly rate or a portion of a sale price-is using a sum certain.
Business law dictionary. 2015.
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sum certain — sum cer·tain / səm sərt ən/ n: an amount that can be determined with certainty from the information presented (as on a negotiable instrument) without resort to outside sources Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. sum… … Law dictionary
sum certain — ➔ certain * * * Ⅰ. sum certain ► LAW a particular amount of money stated in an agreement that cannot be changed: »The $10 million price is sum certain. Main Entry: ↑certain Ⅱ … Financial and business terms
Sum Certain — A legal description of the predetermined settlement price for a contract or negotiable instrument. A sum certain refers to a fixed or specific amount of money, without any room for ambiguity. A negotiable instrument cannot be negotiated unless it … Investment dictionary
sum certain — A requisite of a negotiable instrument is that it contains an unconditional promise to pay a sum certain. U.C.C. No. 3 104(lXb). In law of negotiable instruments, the sum payable is a sum certain even though it is to be paid (a) with stated… … Black's law dictionary
certain — cer‧tain [ˈsɜːtn ǁ ˈsɜːrtn] adjective a sum certain LAW an amount of money that cannot be changed or have anything added to it: • a written order requiring the importer to pay a sum certain in the exporter s domestic currency * * * certain UK US… … Financial and business terms
sum — I (tally) noun compendium, essence, figure, gist, idea conveyed, meaning, score, substance, summary II (total) noun aggregate amount, all, entirety, everything, gross amount, sum total, the whole, totality, wholeness associated concepts: sum paid … Law dictionary
certain — I (fixed) adjective absolute, assured, attested, certified, changeless, conclusive, confident, confirmed, decided, decisive, definite, determinate, determined, firm, guaranteed, incontestable, incontrovertible, indisputable, indubitable,… … Law dictionary
sum payable — As used within negotiable instruments law is the amount for which, by the terms of the instrument, the maker becomes liable, and which he might tender and pay in full satisfaction of his obligation. See also sum certain … Black's law dictionary
certain — et asseuré, Certus, Indubitatus. Certain de partir, Iam certus eundi. En certain temps, Rato tempore. Il est certain, Liquet, Certum, Non arbitrarium. Il n est rien si certain, Certo certius, B. ex Vlp. Pour certain, Nae, Nimirum, Plane, Verum… … Thresor de la langue françoyse
sum|ma|ry — «SUHM uhr ee», noun, plural ries, adjective. –n. a brief statement giving the main points or substance of a matter; epitome; abstract; abridgment: »This history book has a summary at the end of each chapter. ╂[< Latin summārium < summa sum… … Useful english dictionary