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Article
Innovating Financial Law in the Early Modern Netherlands and Europe: Transfers of Commercial Paper and Recourse Liability in Legislation and Ius Commune (Sixteenth-Eighteenth Centuries)
European Journal of Private Law (2011)
  • Dave De ruysscher, Vrije Universiteit Brussel
Abstract

In this contribution it is demonstrated how in the seventeenth and eighteenth centuries Dutch rules concerning negotiable credit instruments (i.e., bills obligatory to bearer and bills of exchange) transformed financial law throughout the European continent. The Antwerp and Amsterdam authorities devised precepts of law on such issues that went against substantial principles of the academic ius commune. In the course of the seventeenth century, the former’s success brought about their insertion into financial legislation of German cities. This phenomenon came along with a new comparative approach of legislators in the whole of Europe, which was typical of that period. During the seventeenth and eighteenth centuries, the continental ius commune system was indeed increasingly reoriented towards adoption of legal solutions existing alongside the traditional university-based literature. These developments facilitated the introduction of the Dutch norms of law into legal treatises and codifications to the disadvantage of older theories of civil law. As a result, by 1800, Dutch rules relating to the assignment of commercial paper and recourse liability of assignors had become firmly established. Even today, they form a part of the private law of many continental European countries. However, the implementation of these modern ideas has never been complete. As a result, some existing and inconvenient differences between arrangements of transfers of debts and claims could be harmonized in the spirit of the work of the early modern Dutch jurists.

Keywords
  • history of law,
  • commercial law,
  • ius commune,
  • Netherlands,
  • early modern period
Disciplines
Publication Date
Fall October 1, 2011
Citation Information
Dave De ruysscher. "Innovating Financial Law in the Early Modern Netherlands and Europe: Transfers of Commercial Paper and Recourse Liability in Legislation and Ius Commune (Sixteenth-Eighteenth Centuries)" European Journal of Private Law Vol. 19 Iss. 5 (2011)
Available at: http://works.bepress.com/deruysscher/5/