The use of emptio venditio for the purpose of suretyship
Even more interesting are the cases where the Roman lawyers used consensual contracts for the purpose of suretyship. Thus, for instance, the late Republican jurists already seem to have devised a transaction, by means of which a result very similar to fideiussio could be achieved, but which avoided certain of its disadvantages, especially litis consumptio, and also all the inconveniences relating to the oral formality of stipulation.
The creditor would ask his debtor to mandate a third party (Seius) to buy his claim. Normally, the purchase price which Seius had to pay was less than the amount of the debt which was the object of the transaction. Thus, the creditor could claim the purchase price from Seius (not the full amount of his claim against the debtor; that was the disadvantage of this construction) in case the debtor fell insolvent or was not able to pay for any other reason. Once Seius had paid the purchase price, he (Seius) could try to recover his expenses from the debtor (on the basis of his actio mandati contraria). A transaction of this type had been concluded in the much-disputed fragment Ofilius/Ulp. D. 44, 4, 4, 6:"Quod si is, cui pecunia debcatur, cum debitore decidit et nomen eius vendidit Seio, cui debitor mandaverat, ut nomen emeret, deque ea re emptor stipulatus est, deinde creditor earn pecuniam retinet, quam per iudicem abstulit, an emptor ex stipulatu possit experiri? et Ofilius putat, si venditor nominus paratus non sit reddere, quantum ab emptore acceperit, non nocituram exceptionem doli mail: et puto sententiam Ofilii veram."[734] [735] [736] Here, the debtor had agreed to mandate Seius to buy the creditor's claim as part of a settlement ("decidit" ) with his creditor (who, in turn, might have granted indulgence; the text does not inform us about the creditor's concession). The purchase of the claim had been accompanied by a stipulation, according to which (i.a.) the creditor had promised to hand over to Seius whatever he might receive under his claim from the debtor. 3.
More on the topic The use of emptio venditio for the purpose of suretyship:
- Emptio Venditio
- Emptio-Venditio (Sale)
- PAR T 11 Emptio venditio I
- CHAPTER 9 Emptio venditio II
- CHAPTER 10 Emptio venditio III
- Demarcating the areas of emptio venditio and locatio conductio
- Emptio rei speratae and emptio spei
- SURETYSHIP
- Suretyship
- Identifying the purpose