Suffragante consensu amplissimi consultissimique ordinis Iuridicae facultatis, in inclyta & celeberrima Basiliensium Academia, pro consequendis in utroque iure Doctoralibus insignijs, Deo Ter Opt. Max. praeside, Subsequentia de privilegiis creditorum Themata

it is necessary: first, that the prior creditor gave the money as a loan, or promised it by a solemn stipulatio a formal verbal contract: second, that the prior also received the pledge or hypotheca mortgage/lien.

XIX.
From which it follows that he who has neither counted out the money, nor promised it by a solemn stipulation, although he has received a pledge of trust in the hope of future payment, does not become more potent in that pledge than he to whom the same pledge is later obligated for money which he did count out.

XX.
And conversely, that he who lent first without a mortgage, although he received a mortgage some time later, is posterior in that mortgage to a second person who did both.

XXI.
Again, he who has lent twice with a mortgage, once before a second person, and again after him: in the prior debt he is more potent than the second, in the posterior he is the third.

XXII.
For the mortgage is not assessed from the time of the given pledge or pact: but from the time of the contract and the principal business held.

XXIII.
Whether, however, the pledge has been contracted purely, or for a day, or under a condition, it makes no difference; for the prior is always.