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between the value of the commodities given as uti and a possible
difference in the value of the exchanged properties is not apparent.
Various factors may have played a role, such as the extent, location,
and quality of the land and the bargaining position of the parties.7.3 Loan
7.3.1 There is an abundance of evidence at Nuzi concerning debt.
Basically, two kinds of contracts are attested: loans with or without
a surety, and loans secured by placing a person or real estate at the
creditor’s disposal as an antichretic pledge. The inclusion of both
kinds of contracts under the heading of “loan” is somewhat con-
ventional and basically derives from the use of Western juridical cat-
egories inherited from the Roman Law tradition. Sureties or pledges
are never the subject of independent contracts but are always included
in the body of the loan transaction. Nuzi loan contracts (¢ubullu)^140
almost exclusively concern the private sector of the economy.7.3.2 The great majority of loans were concerned with cereals: pri-
marily barley but also emmer and wheat. Other objects include
metals (tin, copper, bronze, and—more rarely—silver), animals, and
sundry items such as bricks, wood, or tools.7.3.3 Loans could be with or without interest. In the former case,
the documents state that the capital had to be returned at a given
date; should the debtor fail to satisfy his creditor, interest starts to
accrue. In the latter case, the documents state that at the due date,
capital plus interest had to be repaid. On default, further interest
would accrue.
With the exception of three barley loans recorded in one tablet
from Arraphe ( Jank. 1), which prescribe a 30 percent rate of inter-
est, the standard rate at Nuzi was fixed at 50 percent, whatever the
object of the loan. It is reasonable to suppose that the same 50 per-
cent rate applied to the penalty clauses included in all kinds of loan
contracts, with or without interest.(^140) Cf. Owen, “The Loan Documents.. .”; Wilhelm, Das Archiv.. ., 4; Zaccagnini,
“Debt...”
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