What is the legal term affidavit meaning?

An affidavit is a written statement which you swear is true and which may be used as evidence in a court of law. [law] Synonyms: statement, declaration, testimony, proclamation More Synonyms of affidavit. COBUILD Advanced English Dictionary.

What does FBO mean in contracts?

for the benefit of
Updated July 01, 2021. The designation “FBO” translates to “for the benefit of.” It can appear in many types of financial and legal documents. You will see it most often in living trust documents. But, the term “FBO” can appear on any account or asset that carries a beneficiary designation.

Is an affidavit legally binding?

Yes, an Affidavit is legally binding if it is properly executed, meaning it was: Created by a legal adult who is of sound mind (i.e. mentally capable of signing a legal document for themselves) Authenticated by the proper person (such as a notary public) Sworn under oath.

What is the legal definition of an affidavit?

Legal Definition of affidavit. : a sworn statement in writing made especially under oath or on affirmation before an authorized magistrate or officer — compare deposition, examination.

Who is legally authorized to sign an affidavit?

The document is signed both by the person making the statement, called an affiant, and by a person who is legally authorized to administer an oath, such as a notary public or certain court and government officers. Signing an affidavit that contains false information can subject the affiant to criminal penalties.

What’s the difference between an affidavit and a promise?

Etymologically speaking, a fiancé or fiancée is a “promised one.” Did You Know? In Latin, affidavit means “he (she) has sworn an oath”, and an affidavit is always a sworn written document. If it contains a lie, the person making it may be prosecuted. Affidavits are often used in court when it isn’t possible for someone to appear in person.

When does an affidavit become a sworn document?

If corrections are required after signing, it will be necessary to draw up a new document, as changes cannot be made to a signed document. An affidavit is not considered legal or official until it has been notarized or witnessed by a legal official. Once both parties sign the affidavit, it becomes a sworn document.