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Institutional History: We are thus left with a concept which recognizes the Renaissance as a useful description of an important chapter in the intellectual rather than in the institutional history of the Western World. Although changes in the mental and spiritual climate are always more elusive to date than the great political revolutions, this Renaissance chapter may be said to begin with an account of Italian humanism in the 14th century. Its sequel traces the gradual conquest of the Western World by the new modes of thought that had originated in Italy.
The large investment necessary to purchase real estate would keep ownership out of reach of the average buyer were it not for credit and financial aid offered by individuals, private organizations, institutional lenders, and public agencies. Real estate, because of its durability, and fixity of location, has since the earliest days of recorded history proven an ideal medium for Mortgage investment financing. The practice of Mortgage financing, in fact, dates back to Biblical days.
Though Scots law has not been codified, special authority is given to the institutional works of a few outstanding writers, such as Stair. Especially during the 19th and 20th centuries, however, indirect English influences on Scots law have had the effect of producing to some extent a mixed or hybrid system comparable to that of South Africa, Quebec, Ceylon, or Louisiana. |
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