Roman Goods Sale Agreement
Marcus transfers valuable amphorae to Lucius under an aestimatio. Lucius sells the vessels at the highest obtainable prices and pays Marcus the agreed sum. Any unsold amphorae are returned to Marcus.
Also known as: aestimatum · aestimationis · valuation · assessment
Written by attorneys · grounded in primary & secondary sources — see below
An agreement in Roman law by which the owner of goods transfers them to another person who sells what can be sold for the highest price obtainable, paying the owner an agreed sum for the goods sold and returning any unsold items.
Select any source to read its text and confirm it supports the definition.
Marcus transfers valuable amphorae to Lucius under an aestimatio. Lucius sells the vessels at the highest obtainable prices and pays Marcus the agreed sum. Any unsold amphorae are returned to Marcus.
Julia sends bolts of silk to a trader in Ostia via an aestimatio. The trader sells the silk above the fixed price and remits the agreed amount to Julia. Remaining bolts are returned intact.
Titus places household silver with a dealer under an aestimatio after inheriting the items. The dealer markets the silver and pays the estate the pre-set sum for sold pieces. Unsold silver returns to the estate.
Claudia ships wheat to a merchant under an aestimatio. The merchant sells portions at market and pays Claudia the agreed valuation for each unit sold. Any unsold wheat is shipped back.
Gaius gives bronze tools to a vendor under an aestimatio. The vendor sells tools that find buyers and forwards the fixed payment to Gaius. Tools that remain unsold are returned.
Flavia entrusts cattle to a drover under an aestimatio. The drover sells marketable animals and pays the agreed price to Flavia. Unmarketable cattle are driven back to her farm.
The transferee must return any goods that remain unsold to the original owner. This return obligation distinguishes the arrangement from an outright sale and preserves the owner's residual interest in the property.
Supporting sources
An aestimatio fixes an agreed price the transferee must pay for whatever sells, regardless of the actual sale price obtained. The transferee bears the risk of selling below the agreed figure while keeping any excess, creating a hybrid of sale and agency.
Supporting sources
…“pose no risk of harm to themselves or third parties.” Ante, at 27. This argument again echoes Lochner , which relied on its assessment that “we think that a law like the one before us involves neither the safety, the morals nor the welfare of the public, and that the interest of the public is not in the slightest degree…