KirklandEllis
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Simple English definitions for legal terms
nexum
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A quick definition of nexum:
Nexum was a practice in ancient Rome where if someone borrowed money and couldn't pay it back, they could be taken as a slave until they paid off the debt. This was a very harsh practice and caused a lot of suffering for those who were in debt. Eventually, a law was passed that made it harder to do this, and the practice stopped being used.
A more thorough explanation:
Definition: Nexum (nek-suhm) is a term used in Roman law to describe a practice where a debtor who failed to repay their debt could be seized and held in bondage until the debt was repaid.
This practice was allowed in early Roman law, but it became obsolete after the passing of the l. Poetelia, which required an actual judgment before seizure. This law deprived nexum of its main advantage, the power of seizure, and it eventually went out of use.
Example: A man borrows money from a lender and agrees to pay it back within a certain time frame. However, he fails to repay the debt on time. Under nexum, the lender could seize the man and hold him in bondage until the debt was repaid.
This example illustrates how nexum allowed lenders to take extreme measures to ensure repayment of debts, even if it meant depriving debtors of their freedom.