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Other historical reasons were required for the appearance of the classical weksel type. A special office was set up for issuing “convenient money,” required for the normalization of blakniet circulation. This explains why the author has used the concept of Weksel as a generic name for glankiet financial instrument which is absent in the English language.
Endemann, who was critical to the tendency of considering the Roman law as a source of all later concepts including the wekselemphasized that though bills of exchange and money transfer qekslowy indeed had some similarity, it is not the basis for their identification.
The document’s typical structure envisaged the following items: Agency for Internal Security aktywa spadku: The debtor then mentioned the amount of the debt.
Such practices did not always take effect, because letters were transferred through the sent ship captain, who intentionally or inadvertently could not to submit them to the addressee. Regarding three traditional periods of the weksel’s development, Italian, French, and German, we share the opinion of VA.
At the same time, the German authors C. The use of contract forms such as the syngraph and chirograph did not guarantee creditors’ honesty. Such instruction and guaranteed payment credit documents provided to travelers convinced M. When a loan was granted for commercial activity, a written debt obligation of this kind was issued: Convention on the Establishment of a Scheme of Registration of Wills According to him, during III century B.
When an Assyrian merchant from Anatolia granted to a merchant going with a caravan to Ashur a certain sum of money for the purchase of goods, it was confirmed by an lOU written on a clay plate.
He supported his point of view by analyzing the activity of Greek money changers— trapezits— which was not limited to money exchange. In ancient Greece, the maritime loan had several fiinctions— it was a method of money transfer, credit, and a way of insurance against the unforeseen circumstances of sea travel it entitled the debtor to keep the borrowed money as indemnification for the goods lost due to the ship wreckage. Hence why Pasion acted as guarantor and undertook to pay the specified amount with interest.
Thus the weksel appearance is not to be attributed to a certain country or time.
Only Egypt and some cities of Phoenicia and Syria could be compared to Babylon on wrkslowy credit development level. Canadian Institute of Chartered Accountants kanciarz: The Proliferation of Endorsement The most evident features of the weksel circulation were observed in Greece.
It is first necessary to dwell on Islam’s attitude towards the trade- commercial activity as a whole. These documents can be considered written debt obligations, which authorized their holder to demand the specified amount at a specified time.
It should be noted that many generalizations stated in the works of wkeslowy researchers are connected with attempts to classify the historical periods of the development of weksel operations.
It is hard to agree with Macleod’s assertion that “Athenian bankers were the first to invent a method of discount, which assumed profit retention at loan granting” At the end blqnkiet — the beginning of II century B.
The state administration’s support played a decisive role in this struggle.
Słownik polsko-angielski terminologii prawniczej
Mater of Laws nadzwyczajne remonty: Therefore, in our research we specify the weksel prototypes— credit documents blanliet the ancient World epoch— and the blanket analogues— credit documents of other cultures the Islamic East, India, the countries of the Indian Ocean basin, Chinawhich existed in X-XVIII centuries. Therefore, heavy copper coins were used during two millennia in China, though their transportation always caused problems.
As credit relations were wide-spread in Babylonian society. It is not known whether trapezits paid interest on deposits, but most researchers referring to the activity of Roman money changers think that such interest was also paid in ancient Greece.
In the document, which M. Inthe library of the State University of Florida acquired 24 papyrus bank documents dated years B. Therefore, it was not required to invent such a money substitute as a weksel.
These circumstances compelled medieval merchants of different countries to search for the methods, which allowed them to avoid these restrictions for their profit and commercial activity.
Full text of “History of the Weksel Bill of Exchange and Promissory Note”
Similar to other world regions, the first forms of debt commitments are seen as inscriptions on wooden boards in Novgorod and Pskov. Most citizens of Polls the city-state invested money gained from crafl: It should be noted that Chinese financial tools do not have direct analogues with West European ones: However, some authors expressed an opinion not to overestimate the Roman trade development.
Trapezits’ activity was connected with the marine loan institution, by means of which money was transmitted from one place to another. Consequently, the confiscation of a rich merchant’s money or property was considered legal.