Also known as: locare · locarium · locatarius · location · locator · locatum · locatio conductio · lease · hire · letting
Written by attorneys · grounded in primary & secondary sources — see below
A contract in Roman and civil law by which one party agrees to provide the use of a thing or the performance of services to another in exchange for compensation. This type of contract benefits both parties and is also termed lease or hiring.
Select any source to read its text and confirm it supports the definition.
Lila Lin leased specialized machinery to Liam Larson under a locatio contract. When Lila sued for unpaid compensation, she disclosed in her initial disclosures a description by category and location of all documents in her possession that she might use to support her claims under the locatio agreement.
Lumen Capital entered a locatio contract to lease substantially all of its equipment to a third party. Because the disposition left the corporation without a significant continuing business activity, the board obtained shareholder approval before finalizing the locatio agreement.
Lily Lopez and Landon Long formed an oral locatio contract for a warehouse that exceeded the statute of frauds period. When no possession was taken and no rent paid, the court gave the locatio agreement no effect.
Lance Lee and Lucy Liu formed a limited partnership that entered a locatio contract disposing of substantially all partnership property outside the ordinary course. The disposition required the affirmative consent of all partners to be valid.
Linden Bank signed a letter expressing interest in a locatio contract for office space. After negotiations, the parties signed a second document omitting the premises description. The two signed writings together satisfied the statute of frauds for the locatio agreement.
A member of Lotus Pharmaceuticals requested to inspect records concerning a locatio contract for laboratory equipment. On reasonable notice, the company made the material records available during regular business hours at a reasonable location.
Locatio requires an agreement that one party will provide the use of a thing or services in exchange for compensation. Both parties must benefit from the arrangement under Roman and civil law principles.
Locatio requires compensation for the use or services provided. A gratuitous bailment lacks this exchange of value and does not qualify as locatio.
Yes. Locatio covers contracts for the use of a thing as well as contracts for labor or services provided in return for payment.
…was considered to have exclusive sovereignty over that property, in rem actions could proceed regardless of the owner's location. Indeed, since a State's process could not reach beyond its borders, this Court held after Pennoyer that due process did not require any effort to give a property owner personal notice…