Assumption Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Assumption, written in plain English, along with examples of how it is used.
What is Assumption?
(n) Assumption is the process or act by which a person accepts a fact, meaning, obligations, liability etc attached or connected with the subject matter under consideration.
History and Meaning of Assumption
The term "assumption" has been used in legal contexts for centuries, with its roots in Roman law. In legal terms, assumption refers to the act of accepting a particular fact, obligation, or liability connected to a certain subject in consideration. It's a critical concept in many legal areas, including contract law, property law, and tort law.
For example, in property law, an assumption could refer to accepting liability for a mortgage or recognizing that certain property taxes will be the responsibility of the new owner after a property transfer.
Examples of Assumption:
- In a real estate purchase agreement, the buyers typically assume the responsibility to pay any outstanding property taxes or liens on the property.
- When a company acquires another company, it often assumes the liabilities and obligations of the acquired company, such as outstanding debts or legal disputes.
- In a contract dispute, one party may argue that the other party unfairly assumed certain facts or obligations that were not explicitly outlined in the agreement.
- In a divorce proceeding, one spouse may assume responsibility for certain debts or liabilities associated with assets, such as a mortgage on a shared property or a car loan.
- In a personal injury lawsuit, the defendant may argue that the plaintiff assumed the risk of injury by engaging in a dangerous activity.
Legal Terms Similar to Assumption:
- Acquiescence: a similar legal concept meaning acceptance without objection or protest, typically in the context of accepting terms or conditions.
- Estoppel: a legal principle that bars a party from denying or asserting a fact because of actions, conduct, or representations made previously.
- Ratification: the act of approving or validating a previous act, often used in contexts such as agency law, where one party acts on behalf of another.