INTRODUCTION

This chapter tries to establish what was the learned law's view of money in the time of the glossators. Before going into the glossators' texts, it is necessary to consider what Justinian's law books contained in this respect, and therefore to turn briefly to the views that the Roman lawyers of antiquity held on the law regarding money and currency.

Money in Justinian's laws

The Roman economy was fully monetarised. Money for the Romans meant coins, nummi. Roman coins were “commodity money”, but circulated by tale. The Roman currency was state-controlled; coins were referred to as materia forma publica percussa. The minting of coins was meticulously organised. There was no free minting. Coins came in two – later three – denominations, brought into an official, rigid relation. Bi- and tri-metallism, the parallel use of copper, silver, and later also gold, required adjustments from time to time, and these were brought about in an orderly way. Public finances, taxation and the administration of justice relied on the Roman currency. Penalties were fixed in amounts of Roman money. Judgements in private law matters must also be rendered in sums of Roman money (condemnatio pecuniaria). A number of Roman contracts required the fixing of a specific amount of money.

Given the overwhelming importance of money for the public sector as well as for everyday commerce, non-monetary transactions being marginalised, it is no wonder that Roman lawyers dealt with innumerable legal issues involving money.