Lifetime Salary is Not Replaceable – United arab Emirate Lifetime salary is ” an amount of money given on premiums, Periodic income, given to a person in WhatsApp: +971555570005
Lifetime Salary is Not Replaceable – United arab Emirate
Lifetime salary is ” an amount of money given on premiums, Periodic income, given to a person in the duration of his life, or for the life of another person ”
One of the fundamental differences between permanent income, and lifetime salary is that permanent income is replaceable at any time, wherein lifetime salary is not replaceable.
Wherein, if the payee is paid a corresponding amount or capital, and remained paid for salary installments for a long time, then the committed party payer want to disengage from his obligation by returning the capital to the entitled party, it will be not permissible without the consent of the receivable. Whereas, the committed party shall undertook to pay the salary throughout the lifetime of the receiver, and the commitment shall never be violated.
Similarly, if the salary has been decided to be donated, The donor is committed to pay the salary, which can not be substituted by something else, as there is no compensation, and even if a compensation is paid, the salary can not be refunded as stated above, but the donor can withdraw his gift in cases where it is permissible to withdraw the gift, moreover, they may also refund to the beneficiary with something other than the salary if the latter agrees to do so.
The rule of the salary is not replaceable is not a public order, The party committed to pay the salary may stipulate that the salary may be disposed of by refunding the compensation he received if the salary has been decided to compensate, or refunding a certain amount of capital if he has decided to donate it..
Attorney / Mohamed Al Marzooqi
Mohamed Al Marzooqi advocates & Consultancy
Lawyer in Abu Dhabi, Dubai – UAE