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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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The Commenda

The Commenda

Chapter:
(p.130) 5 The Commenda
Source:
Going the Distance
Author(s):

Ron Harris

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691150772.003.0006

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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