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It has been not so well adapted even for the major kinds of the inter-regionalTrade, and for its expansion in XV and XVI centuries it was required to invent or
Old medieval institutes.
Political, and commercial. Among those were: legal system, Calculated on acceptance not discretionary, so, predicted decisions; The translation bills facilitating remittance and granting of the credit,
Necessary for commercial transactions; growth of the insurance market; replacement
Any confiscations by the regular taxation - and each of these
Innovations has been closely connected with development of private property institutions.
To large-scale trade it became close within the limits of family firms, in which
Loyalty kept on related communications. The firm concept as was required
Not which integrity which is distinct from the person of the proprietor and from a family, and which
Would provide a continuity of communications between those who in it works, and was
It is capable, as well as the family firm to create a call of duty and fidelity. Such
Education demanded not known branch in early family firm
The property and transactions of an individual from the property and enterprise transactions.
The invention of double record in accounts department has provided such division; can
To be, even more important was that double record fixed the financial
History and enterprise financial position that allowed to run with its of business as
With the legal body, having thus some idea about its ability To respond under the obligations.
Requirement for such form of the enterprise which would generate loyalty and Trust between the people who are not blood relatives, represented Itself only one side of wider requirement: the rising world of trade Required morals system. The moral support for difficult system was necessary Obligations and responsibility: the credit, quality, obligations rather
Urgent delivery or purchase of the goods, agreements on participation in incomes from
Distant expeditions. As it was already marked, the morals system was necessary and for
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