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Recognition of debt under debt collection law is the expression of a person’s will, by which he confirms the existence of a debt obligation (for cash or security), while at the same time it must be clear from the existing circumstances that the facts on which the declaration of will is based are present.

Term-Nr.: 10

German: Schuldanerkennung (722)

Source: LK-Lötscher, 11.05.2020

Notice: The contents of this terminology collection Lawpedia® with a focus on business law (especially financial market law) have been researched with great care and compiled on the basis of an extensive flash card, training materials and literature. The various sources (as far as they could be found) can be found in the abbreviations and source references. References to other sources are welcome. Despite the care taken, the provider cannot accept any liability for the accuracy, completeness and topicality of the information provided. The information is of a general nature in particular and does not constitute legal advice in individual cases.

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