Bijural Terminology Records

Common Law

real property

Civil Law

immovables

Title of the Legislative Text

Interest Act, R.S.C. (1985), c. I-15

Provision

  4. Except as to mortgages on real property, whenever any interest is, by the terms of any written or printed contract, whether under seal or not, made payable at a rate or percentage per day, week, month, or at any rate or percentage for any period less than a year, no interest exceeding the rate or percentage of five per cent per annum shall be chargeable, payable or recoverable on any part of the principal money unless the contract contains an express statement of the yearly rate or percentage of interest to which the other rate or percentage is equivalent.

Problem

The concept of bien-fonds, even though known to civil law and common law in French, does not correspond to the common law notion of "real property" used in the English version. Moreover, in the English version, only common law terminology is used.

Solution

In the French version, the terms immeubles and biens réels are added to replace the term bien-fonds in order to reflect the civil law and common law in French. In the English version, the term "immovables" is added in order to reflect civil law.

Harmonized Provision

  4. Except as to mortgages on real property or hypothecs on immovables, whenever any interest is, by the terms of any written or printed contract, whether under seal or not, made payable at a rate or percentage per day, week, month, or at any rate or percentage for any period less than a year, no interest exceeding the rate or percentage of five per cent per annum shall be chargeable, payable or recoverable on any part of the principal money unless the contract contains an express statement of the yearly rate or percentage of interest to which the other rate or percentage is equivalent.

Federal Law-Civil Law Harmonization Act, No. 1, S.C. 2001, c. 4, s. 91

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