In ancient Rome, there existed a practice called Nexum. It involved the enslavement of individuals who were unable to repay their debts. This practice inflicted immense suffering upon those in debt. However, as time passed, a law was enacted to make it more difficult to enforce Nexum, ultimately leading to its discontinuation.
Nexum (nek-suhm) was a term used in Roman law to refer to the practice of seizing and holding a debtor in bondage until their debt was repaid. This practice was permitted in early Roman law but became obsolete after the passing of the l. Poetelia, which required a formal judgement before seizure. This law removed the main advantage of nexum, the power of seizure, and it fell out of use. For example, if a man borrowed money and failed to repay it on time, the lender could use nexum to seize and hold the man in bondage until the debt was repaid. This example demonstrates how nexum allowed lenders to take drastic measures to ensure debt repayment, even at the expense of the debtor’s freedom.
Nexum was an ancient Roman legal contract in which a debtor pledged himself as a bond slave if he defaulted on a loan.
No, Nexum is not recognized in modern legal systems and is considered an outdated and unethical practice.
If a debtor defaulted on a Nexum contract, they would be required to become a bond slave to the creditor until the debt was repaid.
Nexum was a controversial practice that contributed to social and economic inequality in ancient Rome, as it allowed creditors to exert significant control over debtors.
Nexum was eventually replaced by more equitable forms of debt contracts, such as the stipulatio and the mutuum.
No, modern legal systems have abolished the practice of debt bondage and have implemented laws to protect debtors from unfair treatment by creditors.
Nexum did not provide significant legal protections for debtors, and it was often criticized for its lack of fairness and potential for exploitation.
The abolition of Nexum was a significant step towards greater legal and social equality in ancient Rome, as it helped to limit the power of creditors over debtors.
There are historical accounts of Nexum being used in ancient Rome, but it was eventually phased out in favor of more equitable debt contracts.
The practice of Nexum serves as a reminder of the importance of fair and ethical lending practices, and the need for legal protections for debtors in any society.
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This glossary post was last updated: 17th April 2024.
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