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Graseck, Paul · 1588

A decorative drop cap 'P' features floral and foliate scrollwork.
ON THE PRIVILEGES OF CRE-
DITORS
THESIS I.
A privilege of creditors is a ius singulare singular right, by which, when two or more creditors compete for the collection of a debt under the same or a different title, one is preferred over the other.
II.
It is twofold: one personal, the other real.
III.
Concerning the personal privilege, this rule is handed down: that it is not assessed by time, but by cause: and if they exist under the same title, they concur, even if there were diversities of time among them.
IV.
The creditor Republic has this kind of privilege first: for it is preferred over all other chirographarii unsecured creditors holding a debt note.
V.
Next is the ward, the minor, the mute, the deaf, the insane, the prodigal: in the assets of the tutor, pro-tutor, curator, or manager of affairs.
VI.
Then he who has provided credit for the building or construction of a ship: likewise for the purchasing, equipping, or repairing of houses or other things.