Glossary entry (derived from question below)
French term or phrase:
équilibre économique semblable
English translation:
equivalent economic balance
French term
équilibre économique
The Contract is for the provision of services by one company to another.
3 | economic equivalent | Deborah Workman |
4 +3 | financially equitable exchange | Gregory Flanders |
5 -1 | economic equilibrium | Speakering (X) |
Jan 1, 2008 20:02: writeaway changed "Field" from "Law/Patents" to "Bus/Financial" , "Field (specific)" from "Law: Contract(s)" to "Finance (general)" , "Restriction (Pairs)" from "working" to "none" , "Restriction (Native Lang)" from "eng" to "none" , "Restriction (Platinum Only)" from "Platinum Only" to "None" , "Restriction Fields" from "working" to "none"
Jan 3, 2008 17:18: Deborah Workman changed "Edited KOG entry" from "<a href="/profile/570330">B D Finch's</a> old entry - "équilibre économique semblable"" to ""economic balance equivalent""
Jan 3, 2008 17:20: Deborah Workman changed "Edited KOG entry" from "<a href="/profile/72349">Deborah Workman's</a> old entry - "équilibre économique semblable"" to ""comparable economic equivalent""
Jan 3, 2008 20:16: B D Finch changed "Edited KOG entry" from "<a href="/profile/72349">Deborah Workman's</a> old entry - "équilibre économique semblable"" to ""(comparable) economic equivalent""
Proposed translations
economic equivalent
http://www.derivativeslawyer.com/definitions.html
... provided in this clause, he shall be provided with the after-tax economic equivalent of the benefits provided under the ...
http://www.elinfonet.com/prov/48
neutral |
Julie Barber
: I see what Allegro means actually. Although the sentence does clearly state that the clause must be similar to the last one....so both answers here are useful to BD!
2 hrs
|
Thanks, Julie!
|
|
disagree |
AllegroTrans
: nothing to do with equivalents: it's about maintaining the same balance between the parties should provisions in a contract fail to operate
8 hrs
|
Thanks, I read it as equivalent. The new clause should provide the equivalent type of protection to the parties.
|
|
agree |
Andrew Bruch
: Strongly agree that this is the way it is phrased. I've written this and seen it written in a multidude of docs.
14 hrs
|
Thanks, Andrew! It was getting lonely here!
|
financially equitable exchange
Thanks Gregory. This does seem to fit the context. |
Looking at it again, I think that Buzzy is right, there is no reason to think the original arrangements were equitable. |
agree |
rkillings
: Probable. Could only be written by a lawyer ignorant of any economic theory, though. :-(
5 hrs
|
agree |
islander1974
9 hrs
|
agree |
Julie Barber
: @buzzy - if that was the case they'd have called it a déséquilibre ;-)
11 hrs
|
neutral |
Buzzy
: possible, but is there any chance that the original "équilibre" might not have been equitable in the first place? such that the replacement clause follows the same pattern?
15 hrs
|
agree |
AllegroTrans
: re Buzzy: it was "equitable" in the first place: it becomes potentially "inequitable" if a clause becomes inapplicable or innefective, i.e. it's a "clearing up the mess" provision. Re RKillings: has nothing to do with economic theory!!
17 hrs
|
disagree |
Andrew Bruch
: The balance being sought is intended to reflect the balance achieved in the original clause (which was invalidated) this is called an "economic equivalent" - I cannot find any contracts with your phrase, where did you get it?
23 hrs
|
Well, you'll notice that my response came before the addendum was posted. Nevertheless, given the context, I still think this is the clearest way to translate the text. Both sides are attempting to renegociate an equitable exchange.
|
economic equilibrium
disagree |
Andrew Bruch
: Please provide sources: Google using "economic equilibrium" +invalid +unenforceable yields 129 hits; the same search using "economic equivalent" yields 45,000: most of these relating that standard clause in this standard contract.
15 hrs
|
great andrew, next time everyone use google to translate!
|
Discussion
Thanks to all of you for your help. This was a very large and urgent project which kept me in over most of the New Year, so now I'm off skiing and raquetting and my lift pass is paid for!
Hope that helps, but not sure it tells you much more.