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Going the DistanceEurasian Trade and the Rise of the Business Corporation, 1400-1700$
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Ron Harris

Print publication date: 2020

Print ISBN-13: 9780691150772

Published to Princeton Scholarship Online: September 2020

DOI: 10.23943/princeton/9780691150772.001.0001

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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 25 July 2021

The Commenda

The Commenda

(p.130) 5 The Commenda
Going the Distance

Ron Harris

Princeton University Press

This chapter discusses the characteristics of the commenda, its origins, and its migration. The commenda was much more than a simple profit-sharing contract. It was a complex cluster of contracts that was not likely to have been invented casually and endemically. The chapter provides a survey of the migration of the commenda, which creates the discrete bodies of literature that discuss the appearances of the commenda in various regions of Eurasia. It talks about how the commenda is not an employment or a loan contract as the payoffs are not determined ex ante but rather ex post. It is an equity investment. The traveler does not receive a predetermined wage or interest but rather a share in the profits.

Keywords:   commenda, migration, profit-sharing contract, Eurasia, loan contract, equity investment, predetermined wage

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