Authors
Yadira González de Lara
Description
In late-‐medieval Venice the state regulated the ex-‐ante operation of trading voyages in a manner that facilitated the ex-‐post verification of merchants' reports. Specifically, colonial governors, convoy admirals, ship scribes, tax collectors and various other officials monitored merchants at all times, thereby producing information which investors could present as evidence in support of their claims to the court. Formal monitoring thus enhanced the legal protection of investors from expropriation by controlling merchants and eased the transition from the debt-‐like sea loan to the equity-‐like commenda contract. This paper investigates the distinctive nature of the
Scholar articles