Introduction to the Commercial Sciences

Cover Introduction to the Commercial Sciences
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The same person will equally buy and sell on credit. 5 1 Kredit ; crldit. Each form of the word of course comes from the Latin credere. The jurist Ulpian (following Celsus) says, " Credtndi generalis appellatio est . . . Nam cuicumque rei assentiamur alienam fidem secuti, mox recepturi quid ex hoc contractu credere dicamus. " (Dig. , xii. I. I. ) 2 See his Principles, bk. Iii. Ch. Xi. , comparing RosCHER, pp. 245 ff. , or the elementary work of WALKER, cp. Xiii. , LAVELEYE, pp. 216 ff.
3 LAVELE
...YE, pt. Ii. Ch. Iv. 3.
4 The tendency, however, now is towards curtailment of credit, more wholesale transactions being for 'cash. ' 6 BAGEHOT, Lombard Street, pp. 58 f.
CREDIT IN GENERAL. 83 85. We may at once enter upon the consideration of the instruments of credit, the chief of which are ' negotiable instruments, ' relating to money or goods the property in which passes by transfer of the instrument, either as made out to 'bearer, ' to 'order, ' to the payee 'and his assigns, ' or containing such other words importing a transfer.


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