An Essay on Mediæval Economic TeachingO'Brien, George
History
An Essay on Mediæval Economic Teaching
O'Brien, George
Economics -- History -- To 1800; Property -- History -- To 1500
In the fifteenth century definite pronouncements on rent charges
were made by the Popes. A large part of the revenue of ecclesiastical
bodies consisted of rent charges, and in 1425 several persons in the
diocese of Breslau refused to pay the rents they owed to their clergy
on the ground that they were usurious. The question was referred to
Pope Martin V., whose bull deciding the matter was generally followed
by all subsequent authorities. The bull decides in favour of the
lawfulness of rent charges, provided certain conditions were observed.
They must be charged on fixed property ('super bonis suis, dominiis,
oppidis, terris, agris, praediis, domibus et hereditatibus') and
determined beforehand; they must be moderate, not exceeding seven or
ten per cent.; and they must be capable of being repurchased at any
moment in whole or in part, by the repayment of the same sum for which
they were originally created. On the other hand, the payer of the rent
must never be forced to repay the purchase money, even if the goods on
which the rent was charged had perished--in other words, the contract
creating the rent charge was one of sale, and not of loan. The bull
recites that such conditions had been observed in contracts of this
nature from time immemorial.[1] A precisely similar decree was issued
by Calixtus III. in 1455.[2]
[Footnote 1: _Extrav. Commun._, iii. 5, i.]
[Footnote 2: _Ibid._, c. 2.]
These decisions were universally followed in the fifteenth century.[1]
It was always insisted that a rent could only be charged upon
something of which the use could be separated from the ownership,
as otherwise it would savour of usury.[2] In the sixteenth century
interesting discussions arose about the possibility of creating a
personal rent charge, not secured on any specific property, but such
discussions did not trouble the writers of the period which we are
treating. The only instance of such a contract being considered is
found in a bull of Nicholas V. in 1452, permitting such personal rent
charges in the kingdoms of Aragon and Sicily, but this permission was
purely local, and, as the bull itself shows, was designed to meet the
exigencies of a special situation.[3]
[Footnote 1: Ashley, _op. cit._, vol. i. pt. ii. p. 410.]
[Footnote 2: Biel, _op. cit._, Sent. IV. xv. 12.]
[Footnote 3: Cleary, _op. cit._, p. 124.]
§ 9. _Partnership_.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account