Pretium
Dictionary of Terms and Phrases Used in American or English Jurisprudence · Benjamin Vaughan Abbott · 1879
Dictionary of Terms and Phrases Used in American or English Jurisprudence
Price. In the civil law, it signified the price of a thing sold, and properly consisted in counted money.
Pretium affeotionis
The price of affection. A price or value placed upon a thing or estate by the owner, beyond the just value, on account of his affection for it.
Pretium periculi
The price of the risk; the payment in consideration of which the risk is undertaken. Such is the premium paid on a policy of insurance, either on a life or against fire, which varies in amount according to the nature of the risk. So, also, the interest paid in money advanced on bottomry or respondentia partakes more of the character of a pretium periculi, or premium, than mere interest for the loan of money, because, if the ship on which it is advanced is lost, the lender loses his right to claim the capital sum lent. Trayn. Max. Pretium succedit in locum rei. The price succeeds in place of the thing; i.e., of the subject-matter sold.