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Usury. Usury ( / ˈjuːʒəri /) [ 1][ 2] is the practice of making loans that are seen as unfairly enriching the lender. The term may be used in a moral sense—condemning taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law.
Riba an-nasiya is the riba on a credit transaction, when two quantities of items are exchanged, but one or both parties delays delivery or payment and pays interest (i.e. excess monetary compensation in the form of a predetermined percentage amount or percentage) [11] (Taqi Usmani quotes Fakhruddin Al-Raazi as saying "riba an-nasiah, it was a ...
Unconscionability is determined by examining the circumstances of the parties when the contract was made, such as their bargaining power, age, and mental capacity. Other issues might include lack of choice, superior knowledge, and other obligations or circumstances surrounding the bargaining process. Unconscionable conduct is also found in acts ...
Unconscionability in English lawis a field of contract lawand the law of trusts, which precludes the enforcement of voluntary (or consensual) obligationsunfairly exploiting the unequal power of the consenting parties. "Inequality of bargaining power" is another term used to express essentially the same idea for the same area of law, which can ...
Severability. In law, severability (sometimes known as salvatorius, from Latin) refers to a provision in a contract or piece of legislation which states that if some of the terms are held to be illegal or otherwise unenforceable, the remainder should still apply. Sometimes, severability clauses will state that some provisions to the contract ...
Vix pervenit is an encyclical, promulgated by Pope Benedict XIV on November 1, 1745, which condemned the practice of charging interest on loans as usury. Because the encyclical was addressed to the bishops of Italy, it is generally not considered ex cathedra. [1] [2] The Holy Office applied the encyclical to the whole of the Roman Catholic ...
A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [ a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable ...
Category. : Usury. Articles relating to usury, the practice of making unethical or immoral monetary loans that unfairly enrich the lender. The term may be used in a moral sense—condemning, taking advantage of others' misfortunes—or in a legal sense, where an interest rate is charged in excess of the maximum rate that is allowed by law.