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A62307 The stile of exchanges containing both their law & custom as practised now in the most considerable places of exchange in Europe ... / translated out of Low & High Dutch, French and Italian-Latine authors ... by John Scarlett, Merchant of the Eastland Company. Scarlett, John, Merchant of the Eastland Company. 1682 (1682) Wing S827; ESTC R10278 153,480 394

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VI. In the cases of Exchange there should lie no appeal from one Court to another from an Inferior to a Superior unless the Creditor were put in possession of his demands first or at least that it was secured to him VII Nor can the Judges be guilty of any Praecipitancy in this case for a Bill of Exchange is a Bond and Judgment as good as an Hypotheca and being already res judicata the Execution cannot be suspended VIII For the recognizance of Bills drawn by another in another place it s not necessary to fetch Witnesses from other places that can Swear they saw him write them it s enough that by comparing of the Hand-writings it appear that the Bills are of the Drawers writing IX Bills of Exchange cannot must not by any Authority whatever be arrested or detained because they are introduced and confirmed by the Law of Nations i. e. Forreign Bills X. In cases of Exchange the custom of places and their municipal Laws concerning the circumstances thereof must be observed as concerning the time of payment of protesting c. more than the common Law XI If any subscribe a tertia Bill of Exchange as security for the Drawer he is as lyable to make satisfaction if the Drawer fail as if he were the Drawer himself nor need the Remitter first excuse the Drawer XII An execution of payment or resconter if a Liquidate Debt otherwise not may be opposed to hinder the present execution upon a Bill of Exchange as also an exception of Prescription deli mals or that the Bill is not of the Drawers writing nor subscribed by him but a counterfeit XIII If there be one or more Drawers if all have subscribed all the Bills or but one of them they are all lyable to answer in case of Protest XIV If any one concerned in a Bill of Exchange do not do their Duty and what the Courtifie and Custom of Merchants obligeth them to they themselves are lyable to make good all the Loss and Damage that may happen thereby XV. By parata Executie is meant Attachments upon their Goods or Arrests upon their Persons or both for here the Rule and Maxim of Law hath no place Qui non habit in aere luat in corpore i. e. That the doing of one should exclude the other c. XVI Not only common Reason and the general Customs of Exchanges allow this paratam Executionem in cases of Bills of Exchange but also the Municipal Laws of places of Exchange XVII This Law and Custom is of virtue and power against all that are named in a Bill of Exchange so far as they are negligent of their duty or any way faulty But though a third or fourth be concerned in the Bill if their Names be not in the Bills this Law cannot reach them XVIII If any by this ready Execution do suffer wrongfully they have their Regress against the actor in an ordinary way only and may recover Damages CHAP. XLV Of the Par of Exchanges TO conclude this Work it will not be superfluous to give a transient view of the Par of Exchanges and that I may be compendious in this I shall omit the unnecessary Discourses of the variety of Pars as also directions for the calculation thereof referring those that are desirous of information herein to the Map of Commerce in English and to the Book entituled Vnderricht der Wissel-handlung in Hollands and High-Dutch and I shall only here observe what is the reputed Par according to the Intrinsick value or as is generally received among Merchants But before this be done it will be necessary to premise in what denominations every Country and City do keep their accounts and make their Exchange which shall be done in this following method LONDON All Forreign Exchanges made for England Scotland and Ireland are made at London and accounts are kept there in Pounds Shillings and Pence 20 s. makes a Pound and 12 d. a Shilling as is very will known and so generally which I would have noted once NB. for all where any Country or City hereafter specified is said to keep their Accounts in Pounds Shillings and Pence or in Livers Souls and Deniers as they call them that they are always divided or multiplied by 12 20 so that 20 Shillings or Soulz make a Liver or Pound and 12 Pence or Deniers make their Soulz or Shilling London then Exchanges with Italy as with Venice Where accounts are kept in Ducats and Grosses 24 Grosses make a Ducat the Ducat is 6⅓ Livers or Pounds under which denominations some Merchants in Venice do also keep their accounts but the course of Exchange is always made upon the Ducat and Grosses The Ducat is twofold either de ovo or banco which is par with 52 d. Sterling or de curranto which is par with 40 d. Sterling in which broken Numbers London always Exchanges with Italy giving them the Pence for their Ducats or Crowns c. The course of Exchange for Venice from London is generally 50 d to 51 d. Sterling in circa for their Ducat in banco Bergoma The same with Venice whither England hath little Exchanges directly Florence Where accounts are kept in Pounds Shillings and Pence de ovo but they Exchange upon the Crown de ovo which is valued at 7. of their Pound and their Crown currant at l. 7. and their Pound or Liver may be par with 9 d. Sterling their Crown currant par with 63 d. their Crown banco or de ovo with 67½ d. Sterling There is seldom any direct course of Exchange from London thither but to Leghorne There is a course of Exchange at 53 d. Sterling in circa for their Crown de ovo being of the same value with that of Florence Luica The same with Florence and Leghorne Rome Placentia Bollonia Keeps accounts in Crowns Shillings and Pence de ovo one Crown makes 20 Shillings 12 Pence makes 1 Shilling The Crown de Estampi of Rome The Crown de Marchi of Placentia are of one value 7 s. 6 d. or 90 d. Sterling The Crown de Estampi is worth 12 Juliers The Crown currant worth 10 Juliers The Juliers is 10 Bayocchijs England hath no direct course of Exchange to any of these places or very seldom Naples Barry Lechie Keeps accounts in Ducats Tary and Grani and exchanges thereupon only they make a difference betwixt the Currant and Bank Ducat the one being called Moneta de ovo the other Moneta curranto One Ducat is 5 Tary the par with London is 60 d. or 5 s. Sterling for one Ducat One Tary is 20 Grani the Tary is 1 s. Sterling in value One Crown de ovo is 6½ Tary or 6 s. 6 d. or 78 d. Sterling One Crown currant is 5● Tary or 5 s. 6 d. or 66 d. Sterling One Ducat Exchange-Monyes is 6 Tary or 6 s. or 72 d. Sterling One Ducat currant is as before 5 Tary c. England hath no direct course of