Definitions
from The Century Dictionary.
- noun In Scots law, a contract by which such things are lent as are consumed in the use, or cannot be used without their extinction or alienation, such as corn, wine, money, etc.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun a loan in Roman and civil law of fungible things to be restored in similar property of the same quantity and quality
- noun a contract in which movables are so loaned
- noun a loan for consumption
Etymologies
from Wiktionary, Creative Commons Attribution/Share-Alike License
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Examples
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Hence they use each other by turns, a “puerile practice” known as Alish – Takish, the Lat. facere vicibus or mutuum facere.
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The essential thing to notice in this explanation is that the contract of _mutuum_ is shown to be a sale.
An Essay on Mediaeval Economic Teaching George O'Brien
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As we have seen above, _mutuum_ was essentially a sale, and, therefore, no additional price could be charged because of some special individual advantage enjoyed by the buyer (or borrower).
An Essay on Mediaeval Economic Teaching George O'Brien
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All through the discussions on usury we find express recognition of the justice of the owner of money deriving an income from its employment; all that the teaching of usury was at pains to define was who the person was to whom money, which was the subject matter of a _mutuum_, belonged.
An Essay on Mediaeval Economic Teaching George O'Brien
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'Regarded as an extrinsic title, risk of losing the principal is connected with the contract of _mutuum_, and entitles the lender to some compensation for running the risk of losing his capital in order to oblige a possibly insolvent debtor.
An Essay on Mediaeval Economic Teaching George O'Brien
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In this case, of course, the transaction would not be a _mutuum_, but
An Essay on Mediaeval Economic Teaching George O'Brien
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Vulgate, 'mutuum date, nihil inde sperantes' -- 'lend hoping for nothing thereby.'
An Essay on Mediaeval Economic Teaching George O'Brien
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This dispute was decided in favour of the borrower on the ground that, according to the true nature of the contract of _mutuum_, the money was his property.
An Essay on Mediaeval Economic Teaching George O'Brien
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(Apologie des Apuleius, p. 103) as _quod mutuum affectum provocat_.
The Apologia and Florida of Apuleius of Madaura Lucius Apuleius 1914
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On the other hand, the Roman and Greek laws, while considering the mutuum, or loan for consumption, as a contract gratuitous in principle, allowed a clause, stipulating for the payment of interest, to be added to the bond.
The Catholic Encyclopedia, Volume 15: Tournely-Zwirner 1840-1916 1913
sionnach commented on the word mutuum
What a horrible word. Not only does it have that infelicitous distribution of vowels, it conjures up images of mucus and sputum. Yuck.
January 17, 2009
rolig commented on the word mutuum
Really, S.? I relate it to mutual, a rather nice word, which I suspect it is related to, though I'm not sure how it's used – sounds like a word French social philosophers (Badiou? Bourdieu?) might use.
January 17, 2009