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Justinian I · The Digest of Justinian §16.3.8.pr

Scope of Depositors' Privilege against a Bankrupt Banker

Passage 2413 of 9271 · Latin

Summary

Papinianus explains that the depositors' privilege against a bankrupt money-changer extends to all the debtor's assets, not just the remaining deposited funds, while emphasizing that necessary expenses must always be deducted first.

[Papinianus libro nono quaestionum. ] §16.3.8.prQuod priuilegium exercetur non in ea tantum quantitate, quae in bonis argentarii ex pecunia deposita reperta est, sed in omnibus fraudatoris facultatibus: idque propter necessarium usum argentariorum ex utilitate publica receptum est.
[PAPINIANUS libro nono quaestionum.] This privilege is exercised not only on that amount which is found in the assets of the money-changer from the deposited money, but on all the resources of the defaulter; and this has been accepted for the necessary utility of money-changers on the ground of public utility.
plane sumptus causa, qui necessarie factus est, semper praecedit: nam deducto eo bonorum calculus subduci solet.
Clearly, a claim for expenses which have been necessarily incurred always takes precedence; for it is customary that, after deducting them, the calculation of the assets is settled.

Notes

  1. §16.3.8.prQuod priuilegium — The Quod at the beginning of the sentence is a connecting relative adjective acting as a demonstrative ('This privilege'), referring to the privilege of depositors against bankrupt money-changers mentioned in the preceding fragment (D. 16.3.7.2-3).
  2. §16.3.8.prfraudatoris — Meaning 'defaulter' or 'fraudulent debtor,' it refers in this context to the bankrupt money-changer (argentarius) who misapplied the deposited money.
  3. §16.3.8.prsumptus causa — Meaning 'the claim (or cause) for expenses.' It highlights the fundamental principle in liquidation that necessary expenditures for preservation (sumptus qui necessarie factus est) are deducted prior to all other claims, including privileged ones.

Cite this passage

Justinian I, The Digest of Justinian §16.3.8.pr. Humanitext Reader, https://reader.humanitext.ai/en/text/urn:cts:latinLit:phi2806.phi002.humanitext-lat1:16.3.8.pr

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