fiat

/fayaet, fayat/ (Lat. "Let it be done.")

In old English practice, a short order or warrant of a judge or magistrate directing some act to be done; an authority issuing from some competent source for the doing of some legal act. One of the proceedings in the English bankruptcy practice, being a power, signed by the lord chancellor, addressed to the court of bankruptcy, authorizing the petitioning creditor to prosecute his complaint before it. By the statute 12 & 13 Viet., c. 106, fiats were abolished. Arbitrary or authoritative order or decision.

@ joint fiat

In old English law, a fiat in bankruptcy, issued against two or more trading partners

@ fiat justitia

/fayat jastish(iy)a/ Let justice be done. On a petition to the king for his warrant to bring a writ of error in parliament, he writes on the top of the petition, "Fiat justitia," and then the writ of error is made out, etc

@ fiat money

Paper currency not backed by gold or silver

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