Development of real security for obligations fulfillment in Ancient Greece

Abstract

The article is devoted to the development of real security for fulfillment of obligations in Ancient Greece. The article proves that the first form of real security for fulfillment of obligations was a possessory pledge. The creditor sought to obtain possession of the pledged object. This is due to underdeveloped archives in Greece (unlike in the countries of the Ancient East), the lack of land register and encumbrance registry, creditor was not sure that the debtor would not alienate pledged property by fraud. The genesis of sale on condition of release is due to emergence of signs of encumbrance of property (in Athens - horoi). A hypothec came into being later than other real security for fulfillment of obligations.