Get Credit and Trade in Later Medieval England, 1353-1532 PDF

By Richard Goddard

ISBN-10: 1137489855

ISBN-13: 9781137489852

ISBN-10: 1137489871

ISBN-13: 9781137489876

This ebook demanding situations the inspiration that fiscal crises are glossy phenomena via its exploration of the tumultuous ‘credit-crunch’ of the later center a while. It illustrates sincerely how impacts reminiscent of the Black dying, inter-European struggle, weather switch and a bullion famine occasioned serious and lengthy monetary decline throughout 15th century England. Early chapters talk about traits in lending and borrowing, and using credits to fund family alternate via special research of the Statute Staple and wealthy basic assets. the writer then adopts a broad-based geographic lens to envision provincial credits ahead of concentrating on London’s improvement because the advertisement powerhouse in overdue medieval enterprise.

lecturers and scholars of recent monetary switch and old monetary revolutions alike will see that the years from 1353 to 1532 encompassed enormous upheaval and alter, such as glossy recessions. the writer conscientiously courses the reader to determine that those shifts are the precursors of monetary switch within the early glossy interval, laying the rules for the monetary global as we all know it today.

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Sample text

Maghfeld’s account books reveal that the mutual concession of credit was normal business practice. Again this would have the advantage of not taking the debtor to court in order to recover what was owed. Only the death of the debtor could bring an end to a creditor’s pursuit of him through the courts. However, the death of the creditor who was owed money did not relieve the debtor of his responsibilities. On the contrary, the creditor’s executors could, and very often did, continue to pursue his debtors through the courts.

It allowed the creditor to sue the defaulting debtor after one of the instalment payments had been missed rather than waiting until the final repayment date, possibly years later, had passed. Businesspeople needed to be seen to honour their contracts and to pay back their debts on time. 98 Being sued or imprisoned for debt affected the merchant’s reputation. There is very little evidence for creditors continuing to extend credit to someone who had previously defaulted on a Staple recognisance. When this did happen, they were commonly sued in another Staple court in a different county.

Beutel, ‘The development of negotiable instruments in early English Law’, Harvard Law Review 51 (1938): 830–1; J. M.  S. Rogers, The Early History of the Law of Bills and Notes: A Study of the Origins of Anglo-American Commercial Law (Cambridge University Press, 1995), 45–51.  S. Beckerman, ‘The forty shilling jurisdictional limit in medieval English personal actions’, in Legal History Studies, 1972, ed.  Jenkins (Cardiff: University of Wales Press, 1975), 110–17. 92 Debt transactions using the Statute Staple, however, were initiated at all times of the year.

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Credit and Trade in Later Medieval England, 1353-1532 by Richard Goddard

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