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Justinian identifies four types of real contract – contracts in re (in a thing) – mutuum, commodatum, depositum and pignus. Common to all four was an agreement, and the delivery of a res corporalis. [1] They are in contrast to consensual and inominate contracts. [1]
Austin said: Rights in rem sometimes arise from an instrument which is called a contract, and are, therefore, said to arise from a contract; the instrument in these cases wears a double aspect or has a twofold effect: to one purpose it gives jus in personam and is a contract, to another purpose it gives jus in rem and is a conveyance.
How exactly an early literal contract differed from mutuum itself is not certain. [10] The literal contract was formal: any claim would be based on the written form and not any facts which had led to its creation. [11] The literal contract was, according to Gaius, a nomina transcripta, and capable of functioning in two ways.
A commodate (Latin: commodatum), also known as loan for use, [1] in civil law and Scots Law is a gratuitous loan; a loan, or free concession of anything moveable or immoveable, for a certain timeframe, on condition of restoring again the same individual after a certain time.
mutuum: loan Loan for consumption, i.e. bailment of fungible movable property that is to be returned in kind in the same quantity and quality. Parties: mutuum dans (aka mutuans) 'lender' mutuum accipiens (aka mutuarius) 'borrower' naturalia negotii: business naturals Express or implied contractual terms that go to the root of a contract's ...
The second sort is, when goods or chattels that are useful, are lent to a friend gratis, to be used by him; and this is called commodatum, because the thing is to be restored in specie. The third sort is, when goods are left with the bailee to be used by him for hire; this is called locatio et conductio , and the lender is called locator , and ...
Abbrev. [1]Meaning [1] Latin (or Neo-Latin) origin [1]; a.c. before meals: ante cibum a.d., ad, AD right ear auris dextra a.m., am, AM morning: ante meridiem: nocte ...
The commenda was a medieval contract which developed in Italy around the 13th century, and was an early form of limited partnership. [1] [2] The commenda was an agreement between an investing partner and a traveling partner to conduct a commercial enterprise, usually overseas. [3]