Introduction
A secured interest is a limited property right that is given to a creditor for securing his claim on the property of the debtor. If the debt is not satisfied, the creditor may satisfy it from the debtor's property with priority over other claimants.
An exhaustive presentation of the many-sided and often difficult problems of Roman security law would exceed the scope of this casebook.
The texts that are selected here deal with some especially important issues: the origin and extinction of security interests and the legal relationships when there are multiple security interests in the same piece of property.Drawing upon the concepts of contract law, the jurists developed interpretive viewpoints and doctrinal constructions, like pignus tacitum (“silent pledge”) and “curing,” that originally had no place in the law of secured interests in another's property. Step-by-step they made possible the creation of multiple security interests in a piece of property, and they developed rules regarding the priority relationships among different creditors based on contractual clauses and their interpretation, causes of action, and defenses. Imperial involvement made major changes in classical security law through the creation of statutory security rights and priorities.
Literature:
Schuller W. “Zum pignus tacitum.” Labeo 15 (1969) 267-284.
Wagner, Herbert. Voraussetzungen, Vorstufen und Anfänge der römischen Generalverpfändung, Bd. 16, 151. Marburg: N. G. Elwert, 1968, 125 ff.
Kaser M.
“In bonis esse.” ZRG 78 (1961) 173-220, at 197 ff. (review of von Wubbe. Res aliena pignori data, 1960)._______. ZRG 78 (1961) 462-465 (review of Tondo, Salvatore. Convalida del pegno... e corso dei pegni successivi, Milano: Giuffre [1959]) at 462 ff.; 469 ff. (review of Miquel, Juan. El rango hipotecario).
Schanbacher, Dietmar. Die Konvaleszenz von Pfandrechten im klassischen römischen Recht. Berlin: Duncker & Humblot, 1987.
Kaser M. “Über mehrfache Verpfändung im römischen Recht,” in Studi in onore di Giuseppe Grosso I, Torino, 1968-1969), 27-76, at 29 ff. (reprinted in Ausgewählte Schriften II [1976], 169 ff.).
Wagner, Herbert. Die Entwicklung der Legalhypotheken am Schuldnervermögen im römischen Recht: bis zur Zeit Diokletians. Wien: Böhlau, 1974, 76 ff, 180 ff.
Kaser, M. Studien zum römischen Pfandrecht: Neudrucke mit Nachträgen. Napoli: Jovene, 1982.
Wacke, Andreas. “Max Kasers Lehren zum Ursprung und Wesen des römischen Pfandrechts.” ZRG 115 (1998) 168-202.
Ankum, Hans. ZRG 118 (2001) 442-462 (review of Potjewijd, G. H. Beschikkingsbevoegdheid, Bekrachtiging En Convalescentie, 1998).
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