It is true, that a Law of Contract based on causae will always be an arbitrary and inelastic law; but it is a kind of law with which some great nations are satisfied at the present day.

It is true, that a Law of Contract based on causae will always be an arbitrary and inelastic law; but it is a kind of law with which some great nations are satisfied at the present day.

But then a daring evasion by a leading conveyancer, known as the Lease and Release, received judicial sanction; and commenced a successful career of more than 200 years. The Lease and Release, attributed to Serjeant Moore, was based on the fact that the Statute of Inrolments did not apply to terms of years.

We regard an action of Contract as an action to prevent or compensate for a breach of a promise; an action of Tort as an action to to punish or compensate for a wrong, such as assault or defamation, which has not any necessary connection with a promise.

First in point of time and interest comes the mortgage debt, i.e. the claim for the return of money lent on the security of some tangible object. Such claims are among the earliest fruits of a commercial civilization, and are nearly always affected the same way, viz. by the deposit or pledge of the security with the creditor, to be redeemed or returned on the payment of the debt.

The common law of chattels, that is to say, the law ultimately adopted by the King's courts for the regulation of disputes about the ownership and possession of goods, was, to be a substantial extent, a by-product of that new procedure which had been mainly introduced to perfect the feudal scheme of land law.

But we remember that it was just precisely in the reign of Richard II that the Peasants' War, following upon the changes wrought by the visitations of the Great Plague, virtually destroyed serfdom as a personal status.