A summary:
Ziggurat token, Ecex.Exchange Trading Platform and PlanetZiggurat https://ico.ecex.exchange/PlanetZiggurat goal is to bring assignments on Ecex.Exchange trading platform. We will fill the gap by creating a market environment, the system for an active trading platform of assignment agreements. This means changing of owners of a multitude of agreements and documents, such as claims, invoices and factoring agreements all together assignments.
The regular thing what everybody trading is buy-sell agreement. It is very easy to understand, every investor can buy stock and he assumed that is happening behind the electronic market system, how the trade matching takes place and what is the consequences in account then the deals are finally ended.
But in the ecosystem which is mostly same as the stock market and built only for claims, rights, and receivables, operates on basis assignment agreement, there are great possibilities spread around the world and win the customers everywhere.
PlanetZiggurat is aiming for 1 million trades per day by the end of the third year. Our revenue will come from services including: trading fees, issuer background check systems, digital signing, exchange member fees etc. The cash flow will be similar to stock exchange business. The only difference will be instruments and a set of agreements.
Ziggurat Tokens
The PlanetZiggurat shall grant to the User an opportunity to use the Ziggurat digital tokens to:
(i)opportunities to pay partly for service to sell and buy claims, receivables, and mediate insurance contracts,
(ii) to pay partly various support services related to the selling and buying through the exchange, and give users exercise right to realize their own requirements regarding claims,
(iii) Ziggurat cryptocurrency grants the right to profit from up to 20% of Ecex.Exchange Trading Platform outcome, (distribution will be in cryptocurrency, in ethereum until otherwise decided),
(iv) using Ziggurat cryptocurrency for internal payments through the Ecex.Exchange Platform.
The smart-contract of the Ecex.Exchange Platform requires the Ziggurat digital tokens for its work. Only the owner of the Ziggurat digital tokens may purchase with discounts the services of the Ecex.Exchange Platform.
For learning and understanding.
1. HISTORICAL BACKGROUND OF ASSIGNMENT
1.1.Roman Law
The Roman law provides an invaluable introduction to the understanding of legal concepts and a passport to the appreciation of Continental legal systems. Roman law is the product of the genius of good order and organized common sense of a remarkable ancient civilization, and it constitutes a legacy that has had a profound influence in subsequent ages.
1.2. Cessio
There are two main institutes related to cessio:
- cessio bonorum: where a debtor had become insolvent owing to unforeseen circumstances, he could, under the formulary procedure, avoid the infamy attached to execution by petitioning a magistrate to allow him to make a voluntary cession of his property (cessio bonorum) to his creditors;
- cessio in iure: Litt. cession before a court. It was a ritual procedure (imitating the procedure of the legis actio sacramento in rem) already known by the time of the Twelve Tables that was used to create, transfer or extinguish certain rights (specifically the so-called ?Quiritary rights?). It partly fell into disuse in classical Roman law.1.
Cessio bonorum, (Latin: ?a cession of goods?), a voluntary surrender of goods by a debtor to his creditors. It did not amount to a discharge of the debt unless the property ceded was sufficient for the purpose, but it secured the debtor from personal arrest. The creditors sold the goods, applying the proceeds to their claims. Although property that the debtor might acquire later could be claimed by the creditors, he could not be deprived of the bare necessities. The main features of cessio bonorum were adopted into the French and other legal systems. In England it survives in the internal regulations of certain commercial bodies, such as stock exchanges.
Cessio bonorum ,was a procedure introduced by Augustus reign (Republic) , whereby a judgement debtor voluntarily surrendered his property to the creditors. The property was sold off, but the debtor would not be subjected to legal disgrace or to the possible imprisonment by the creditors. Surrender was not available as of the right: it applied only there the preator was satisfied that the debtor had genuine assets and that the bankruptcy was the result of misfortune.
In jure cessio was a conveyance in the form of a lawsuit. The transferee claimed before the magistrate that the thing was his, and the transferor, who was the defendant, admitted the claim. The magistrate then adjudged the thing to the transferee. (The sham-lawsuit theory, however, is not acceptable to all modern scholars, principally because the judgment of ownership was valid against any possible private claimant, not merely against the defendant, as in a true lawsuit.) 2
Cessio had some similarities to mancipatio. It was a highly formal and cumbersome conveyance, originating before the Twelve Tables and fading in importance long before Justinian. Our knowledge of cessio is derived mainly from Gaius, who tells us(Inst.Gai.2.24) that cessio was performed before a magistrate, such as the preator(or governor) with the transferor and transferee present, together with the property to be transferred (or a symbolic sod of earth in the case of land). The transferee grasped the property and uttered the same set words as in mancipatio. The preator asked the transferor thether he claimed the thing. Assuming that the latter stayed silent, or made no claim, he was taken as having ceded his rights, whereupon the preator awarded the property to the transferee.3
2. ASSIGNMENT TODAY
An assignment (Latin cessio) is a term used with similar meanings in the law of contracts and in the law of real estate. In both instances, it encompasses the transfer of rights held by one party?the assignor?to another party?the assignee. It can also be a transfer of a benefit, including an equitable interest, according to established rules (at common law or in equity).The rights may be vested or contingent.The details of the assignment determine some additional rights and liabilities (or duties).
Typically a third-party is involved in a contract with the assignor, and the contract is in effect transferred to the assignee. For example, a borrower borrows money from a local bank. The local bank receives a mortgage note and can thereafter transfer that note to a financial institution in exchange for a lump-sum of cash, thereby assigning the right to receive payment from the borrower to another entity. Mortgages and lending contracts are relatively amenable to assignment since the lender's duties are relatively limited; other contracts which involve personal duties such as legal counsel may not be assignable.
The assignment might be claims, all kind of contracts, factoring contracts, receivables, the pool of loan contracts and so on. Ecex.Exchange Trading Platform enables download all assignment related documents to the digital container under digital signature. It mean if assignment agreement is on the market buyer obtain all related documents and have full authority to realize his rights. Assignment Wikipedia
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