Legal Definitions - centesima

Centesima is a term originating from Roman law that refers to the one-hundredth part of something, or 1%.

In its historical context, "centesima" was frequently used in financial and proportional calculations, particularly concerning interest rates, taxes, or shares of an estate.

• Example 1: Loan Interest

  Imagine a Roman merchant who borrowed a sum of money to finance a trading venture. If the loan agreement stipulated "usurae centesimae," it meant that the interest rate charged on the principal amount was 1% per month. This illustrates "centesima" as a specific, recurring proportion (one-hundredth) of the debt that was due as interest.

• Example 2: Taxation on Goods

  Consider a situation where the Roman government imposed a special duty on certain luxury goods imported into the city. If this duty was referred to as a "centesima," it meant that 1% of the total declared value of those goods had to be paid as a tax. Here, "centesima" represents a fixed percentage of an item's worth collected by the state.

• Example 3: Inheritance Distribution

  Suppose a wealthy Roman citizen drafted a will outlining how their extensive property and assets should be divided among heirs and beneficiaries. If the will specified that a particular temple or a distant relative was to receive a "centesima" of the entire estate, it meant they were bequeathed 1% of the total value of the inheritance. This demonstrates "centesima" as a fractional share of a larger whole.