Selling for ready money

Chapter VI Selling for ready money Since the natural order of things indicates that a discussion on selling is now due, I think we should begin the topic with an overview of this issue. Apart from exchange, as discussed in the previous chapter, there are two ways of selling: first, for ready money; and second, by financing a purchase. W e will first examine the first method and then proceed with the second. Buying and selling are two correlative operations and thus you cannot buy something without selling something else at the same time. This is why in this chapter we will examine selling and purchasing for ready money. In terms of this, the rule is that only a commodity in the rightful possession of the trader, or if the trader is the authorized middleman of the rightful owner, can be sold. What marked the onset of selling for ready money was the introduction of money. When money was scarce, due to the diversity of places and seasons, the need would arise for financed purchases, in the case of which payment could be postponed. I would advise that, whenever possible, selling for ready money is a better option than financing a purchase. The same applies to buying. The primary reason in favor of ready money is that the situation is clear and unambiguous, there is no risk involved and hence it is completely safe. Profit is an incentive, encouraging the sale as well as the purchase. The outcome is positive either way. As soon as the trader sees money he craves it, and accepts the terms under which it can be obtained. Th is “rule” is always followed

unless: the price is inflated (as stated in Canon X, question 2); the commodity in question are playing cards, dice, poisonous substances, etc.; the merchandise is spoiled or broken (as St. Thomas explained in 2.2., question LXXVII); or the commodity was involved in any context relating to oaths, perjury or other inappropriate and shameful activities. This work also stipulates this kind of practice. Therefore, any trader can sell his goods for ready money with a clear conscience if he complies with certain regulations, as listed above. On the other hand, not all commodities can be sold with delayed payment, which will be discussed in the following chapter. This kind of sale is legal, fair and justified, however, under certain circumstances it can be forbidden.