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(DOWNLOAD) "Argument 404: on Whether It Is Licit for the Banker to Charge a Certain Increment for the Exchange He Gives when He Anticipates the Money in One Place to Recover It in a Different Place?(Treatise on Money) (Excerpt)" by Journal of Markets & Morality # eBook PDF Kindle ePub Free

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Argument 404: on Whether It Is Licit for the Banker to Charge a Certain Increment for the Exchange He Gives when He Anticipates the Money in One Place to Recover It in a Different Place?(Treatise on Money) (Excerpt)

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  • Title: Argument 404: on Whether It Is Licit for the Banker to Charge a Certain Increment for the Exchange He Gives when He Anticipates the Money in One Place to Recover It in a Different Place?(Treatise on Money) (Excerpt)
  • Author : Journal of Markets & Morality
  • Release Date : January 22, 2005
  • Genre: Business & Personal Finance,Books,
  • Pages : * pages
  • Size : 297 KB

Description

Some experts considered this type of exchange to be illicit and usurious, and forced the person to restitute the increment thus received. They justified their opinion saying that it does not seem that the banker transports any money, which would be the reason why he could licitly receive said increment due to the services he rendered [by transporting it]; and there does not seem to be any other reason for that increment other than waiting for future payment, making it a formal or virtual loan, and therefore usurious, [as] the increment thus received [is considered such]. This opinion is defended in the Ordenanzas Portuguesas, (1) when they condemn this contract as usurious and consider the banker who acts in this way liable to the penalties established against the usurers. However, the contrary opinion seems more usual among the doctors, that is, that said contract of exchange shall not be usurious as long as the increment is not received for reason of the delay in payment but for the service and virtual transportation of the money. So say Conrado, Cayetano, Soto, Navarro, Juan de Medina, and others. (2) King Sebastian's law promulgated November 5, 1577, agrees with this opinion, [in which law] Portugal was conceded four fairs or markets that were never celebrated. That law authorizes, not only in fairs, but at other times receiving money in exchange in Seville to pay it back with a certain increment in Portugal. In his Bull On exchanges, Pius V not only does not reject this opinion but explicitly approves it.


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