PIGNUS

Contract	PIGNUS
Object	Guarantee of a debit/ Pledge
Definition	Pignus was a contract in which a debtor delivered a thing to his creditor as security for the debt. The delivery of the thing gave rise to the obligation on the part of the debtor to return it upon payment of the debt.
Type of contract	Real – perfected by the delivery of the thing-, bonae fidei
Parties	Pledgor (debtor)     in this contract both parties were benefitted Pledgee (creditor)
Obligations	Pledgee: to return the thing upon payment – in case he excercised the right of sale if the debt was not paid, he had to return the balance of the proceeds after paying himself the amount of the debt)   Pledgor: expenses caused by the thing to the pledgee
Features	There were three kinds of pignus in Roman Law: Pignus: Mobile objects- the pledge has material possession of the thing Hypotheca: it is similar to the modern mortgage – no material transfer of the thing Antichresis
Essential Elements	Credit Delivery of the Object Ownership of the object (if something was given in pignus, it could be sold in case of default of payment. If a third party allowed a thing to be pignus of someone else's credir, he was guaranteeing the other person's credit himself)
Standard of care	Because both parties benefitted the standard of care is Omnia diligentia (culpa levis- bonus pater familiae- objective standard)
Action	Pledgee: Actio pignoraticia directa Pledgor: Actio pignoraticia contraria

DEPOSITUM

Contract	DEPOSITUM
Object	Safekeeping/Custody of things
Definition	Depositum in a contract by which one person (depositor) delivered a thing to another one (depositee/ depositaruim) to keep for him gratuitously and to return it on demand
Type of contract	Bilateral, Bonae fidei, real – perfected by the delivery of the thing-
Parties	Depositor: Beneficiary of this contract Depositee/ depositarium
Obligations	Depositee: To keep the thing delivered and return exactly what he has received on demand
Features	Ownership is not transferred –difference with mutuum Use is not allowed- difference with commodatum
Essential Elements	Delivery of the thing Irregular deposit: when fungible things or consumable things (like money) were delivered in deposit (for safekeeping purposes) it was considered an irregular deposit ( in reality is a mutuum but it was allowed as an irregular deposit to allow the action depositum which was bonae fideii instead of the Actio Condictio which was of strict law)- THINK ABOUT THE MONEY YOU PUT IN THE BANKS
Standard of care	Depositee/Depositarium: was only liable for dolus , loss or damage caused by positive action from him Depositor: expenses and damages caused by the thing
Action	Breach of depositee: fail to return the thing on demand: Actio depositum directa To enforce rights from this contract against the depositor: Actio depositum contraria

MUTUUM

Contract Name	MUTUUM
Object	Loan of consumption
Definition	There will be mutuum or consumption loan, when a party is obliged to deliver a number of things to another party that the latter is allowed to consume or exchange. The receiving party must return in the agreed time, as many things of the same kind and quality. The thing under this contract must be consumable or fungible when not consumable
Parties	Lender Borrower: he is the beneficiary of this contract UNLESS the parties agree on interests
Type of contract	Gratuit (Onerous onlyif there are interests agreed), real –perfected by the traditio-, stricti iuris
Obligation	Borrower: To return equivalent + agreed interest
Features	Compound interest (to charge interest over interests owed): Prohibited Usury limit: 1/12 per year in XII tables – reduce to 1/24 per year. Justinian: 4 to 12% depending on the person
Essential Elements	Traditio Object: Mobile, fungible or consumable. Determined: Quantity, quality and type
Standard of care	Borrower was the owner of the thing after it had been handed over.
Remedies	Condictio