Why debt is a thing in a legal sense?

Jurisprudence 6/2017 Section: Discussion Page: 40-42

Keywords: thing in a legal sense, debt, legal definition

Abstract: The article deals with the issue of debt as a thing in a legal sense. The Civil Code of 2012 restored the so-called wide approach to things into Czech private law. As a result of this change, discussions whether some parts of objective reality can be considered as things in a legal sense emerged. This applies to debt as well. The conclusion presented in this article is in favour of considering debt as a thing in a legal sense since it cumulatively fulfils all criteria set out by a binding legal definition. The text is mainly focused on the usefulness of a debt, which is one of the defining criteria of a thing in a legal sense. Its usefulness, i. e. its ability to satisfy the needs of people, is depicted on a particular example. For all reasons described in detail in the article, the author could not (although contrary to some so far published opinions) come to a conclusion different than the one that a debt must be considered as a thing in a legal sense.

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