Legal Definitions - aestimatio

Aestimatio refers to a type of agreement, originating in Roman law, where an owner provides goods to another person (often a merchant or seller) with the understanding that the recipient will attempt to sell these goods. For any items successfully sold, the recipient agrees to pay the original owner a predetermined, fixed price. Any goods that remain unsold after an agreed period are returned to the original owner.

This arrangement allows the seller to profit from the difference between the fixed price paid to the owner and the actual sale price achieved, while the owner receives a guaranteed amount for each item sold without needing to manage the sales process directly.

• Example 1: Artisan Crafts in a Boutique

  Imagine Sarah, a local jewelry maker, creates unique handcrafted silver necklaces. She enters into an agreement with "The Gilded Lily," a boutique specializing in artisan goods. Sarah provides 10 necklaces to the boutique with the understanding that for each necklace sold, The Gilded Lily will pay Sarah a fixed price of $50. The boutique is then free to sell the necklaces to customers for $75, $80, or whatever price they can achieve. After three months, any unsold necklaces are returned to Sarah.

  This illustrates aestimatio because Sarah (the owner) provides goods to The Gilded Lily (the seller), who sells them for the best possible price, pays Sarah a fixed, agreed amount ($50) for each item sold, and returns any items that do not sell.

• Example 2: Specialty Produce at a Market

  Consider Green Valley Farm, which grows organic heirloom tomatoes. They make an arrangement with "Fresh Harvest Market," a specialty grocery store. The farm delivers 50 pounds of tomatoes to the market, and the market agrees to pay the farm $3.00 per pound for all tomatoes sold. The market then sells these tomatoes to its customers for $4.50 per pound. Any tomatoes not sold within a week (perhaps due to spoilage or lack of demand) are returned to Green Valley Farm, with no payment due for them.

  This demonstrates aestimatio as Green Valley Farm (the owner) provides produce to Fresh Harvest Market (the seller), who sells what they can, pays the farm a fixed price per pound for the sold produce, and does not pay for or returns the unsold portion.

• Example 3: Vintage Car Sales

  Mr. Henderson, a vintage car collector, owns a rare 1965 Mustang convertible. He wants to sell it but doesn't have the time to manage the sale process. He entrusts the car to "Classic Wheels Dealership" under an agreement where the dealership will market and sell the car. For a successful sale, the dealership agrees to pay Mr. Henderson a fixed amount of $75,000. The dealership then sells the car to a buyer for $85,000. If the car does not sell within six months, Mr. Henderson will retrieve it from the dealership.

  This fits aestimatio because Mr. Henderson (the owner) gives his car to Classic Wheels Dealership (the seller), who sells it for the best possible price, pays Mr. Henderson a fixed, agreed amount ($75,000) upon sale, and returns the car if it remains unsold.