Glossary entry

Portuguese term or phrase:

massa passiva

English translation:

Amount payable to compensate general average

Added to glossary by Mark Robertson
Feb 14, 2023 10:39
1 yr ago
20 viewers *
Portuguese term

Massa Passiva

Portuguese to English Law/Patents Law (general)
Os primeiros conceitos, que retomaremos adiante, são a “Massa Ativa”
e a “Massa Passiva” da avaria grossa ou comum.
Aquela é constituída pelo conjunto de despesas extraordinárias e
pelos sacrifícios feitos voluntariamente para salvação comum. Essencialmente,
trata-se das avarias-danos (navio e carga) e das avarias-despesas
(despesas de arribada e despesas de bordo desde o momento em que foi
tomada a decisão de fazer o sacrifício ou despesa, até ao momento em
que o navio volta à mesma posição para continuar a viagem, despesas de
regulação e perda de frete).
Quanto à “Massa Passiva”, será a que vai contribuir para indemnizar
os prejuízos, i.e., a massa contribuinte. Uma vez calculadas, é fácil determinar
a percentagem da contribuição de cada um dos interessados na
expedição em função da avaliação dos bens presentes e numa imputação
pro rata.
Change log

Feb 20, 2023 08:35: Mark Robertson Created KOG entry

Discussion

Mark Robertson Feb 15, 2023:
Massa Passiva and Massa Ativa Following on from the exchange between Phil and Z-T Translations, the terms massa passiva and massa ativa are not limited to physics. As legal/accounting terms, massa passiva means total liabilities, and massa ativa means total assets. Massa on its own can be translated as estate, in the sense of a person's total assets and liabilities.

It therefore makes sense that these terms should be used to denote the total general average and the amount that those interested in the voyage are require to contribute to pay the general average.

See Vocabulário Jurídico, De Plácido e Silva, 28th Edition, pages 895 and 896.

Proposed translations

+1
1 hr
Selected

Amount payable to compensate general average

In Maritime Law, average means accidental partial loss to an insured ship, or its cargo, during a voyage.

General Average = average resulting from intentional partial sacrifice of a ship, or its cargo, to avoid total loss. The lability for general average is shared proportionately by all those who had an interest in the voyage.

Massa Ativa = amount or value general average

Massa Passiva = amount payable by those with a liability to contribute to the compensation of general average.

Source: Blacks Law Dictionary.
Peer comment(s):

agree Bil Fro : O mais ajustado na minha opinião.
5 hrs
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4 KudoZ points awarded for this answer. Comment: "Thank you again"
+1
2 hrs

liabilities

Bank risk management | Oxford
Oxford University Press ·
https://academic.oup.com › book
In imperfect financial markets, there is a need for both debt and equity. ... the assets (activa) and liabilities (passiva) of the firm on a certain date.
Peer comment(s):

agree Mario Freitas : Yes, if the terms in Pt are "ativos" and "passivos", there is no doubt passivos are liabilities.
8 hrs
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2 hrs

(maritime average) aggregate contributions; (insolvency) pool of liabilities

My recollection of maritime average in marine or maritime insurance had been contributions (understood: payable) to general or common average.

pool of.. / aggregate : é fácil determinar a percentagem da contribuição de cada um dos interessados

In personal or (US: corporate) bankruptcy / insolvency, the translation in most Romance lingos goes a different 'pooling or fund of liabilities' way.
Example sentence:

IATE: ECONOMICS COM pt massa passiva COM en debit account COM passive account COM

General Average is a long-established principle of Maritime Law which requires *contribution* from all whose goods were saved to the losses of those whose goods were sacrificed at time of common peril.

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