Claims Quote by Ulpian
“A party who bequeaths a note bequeaths the claim and not merely the material on which the writing appears. This is proved by a sale, for when a note is sold, the debt by which it is evidenced is also considered to be sold.”
About This Quote
Source Legal Treatise: Digesta, Book 2, 5th century
A note’s legal claim transfers with the note itself, not just the paper, as shown by sale law.
In simple terms: Ownership of a note includes its debt.
Key Takeaway
Consider both the note and its obligation when transferring.
Themes
law
property
contracts
Mood
analytical
formal
Type
legal
educational
When to use this quote
- sale of promissory notes
- debt transfer
- financial agreements
Key Concepts
assignment
security interests
Questions to Reflect On
- What protections exist for buyers of notes?
- How does this principle affect modern securities?
A Different Perspective
Complexities arise if the underlying debt is disputed.
