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The History of Rome. Book IThe law as little recognized mortgaging; but the same purpose was served by the immediate delivery of the property in pledge to the creditor as if he were its purchaser, who thereupon gave his word of honour (fiducia) that he would not alienate the object pledged until the payment fell due, and would restore it to his debtor when the sum advanced had been repaid. Contracts Contracts concluded between the state and a burgess, particularly the obligation given by those who became sureties for a payment to the state (praevides, praedes), were valid without further formality. On the other hand, contracts between private persons under ordinary circumstances gave no claim for legal aid on the part of the state. The only protection of the creditor was the debtor's word of honour which was held in high esteem after the wont of merchants, and possibly also, in those frequent cases where an oath had been added, the fear of the gods who avenged perjury. The only contracts legally actionable were those of betrothal (the effect of which was that the father, in the event of his failing to give the promised bride, had to furnish satisfaction and compensation), of purchase (mancipatio), and of loan (nexumA purchase was held to be legally concluded when the seller delivered the article purchased into the hand of the buyer (mancipare) and the buyer at the same time paid to the seller the stipulated price in presence of witnesses. This was done, after copper superseded sheep and cattle as the regular standard of value, by weighing out the stipulated quantity of copper in a balance adjusted by a neutral person[4] ...» |
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