Legal Definitions - jactus retis

Jactus Retis

In Roman law, jactus retis literally translates to "the casting of a net." This term refers to the act of undertaking an action where the outcome is uncertain, especially when that uncertain outcome is the subject of a contract known as emptio spei, or "the purchase of a hope." Essentially, it describes the situation where someone buys the chance or potential result of an endeavor, rather than a guaranteed item or outcome.

• Imagine a scenario where a fishing boat captain sells the rights to whatever catch his crew brings in on their next voyage, before the nets have even been cast. The buyer is not purchasing a specific amount or type of fish; instead, they are purchasing the hope or chance of a successful haul. The act of the crew going out and casting their nets, with the uncertain prospect of what they might catch, embodies the concept of jactus retis, as the buyer has committed to the purchase based solely on this potential outcome.

• Consider a person buying a lottery ticket. When they purchase the ticket, they are not buying a guaranteed prize; they are buying the hope or chance of winning. The act of participating in the lottery, which involves the uncertain drawing of numbers, is analogous to "casting a net" into a pool of possibilities. The buyer is engaging in an action (buying the ticket) where the ultimate reward is entirely speculative, illustrating jactus retis in the context of acquiring a potential, rather than certain, benefit.

• Another example could be an investor purchasing exploration rights for a plot of land, hoping to discover valuable minerals. The investor is not buying a guaranteed mine full of gold; they are buying the opportunity to explore and the hope that something valuable will be found. The process of conducting geological surveys and drilling test holes, with no certainty of success, represents the "casting of a net" into the unknown. The investor's commitment is based on the potential future discovery, making this a clear instance of jactus retis tied to the purchase of a speculative outcome.