Answer:
this will help http://legacy.fordham.edu/halsall/source/1225florence-gig.asp
Explanation:
Economic relationships between cities frequently necessitated the formulation of agreements between them relating to commerce and other matters. Conflicts between debtor and creditor inevitably arose, especially where the contracting parties lived in different cities, and for the settlement of such disputes cities, or, as in England, merchant gilds, made agreements. Cities also often borrowed in their corporate capacity as is evident from the relations between Pisa, Florence, and St. Gimignano. The low rate of interest, about 7.5 per cent, paid on the money given to Florence, indicates a state of security not very common in private transactions of a like nature."
