The State of New York Enacts a Usury Statute

question 56

Multiple Choice

The state of New York enacts a usury statute. With respect to different types of transactions, including ordinary loans, the purpose of the statute is to

• A) set a maximum rate of interest.
• B) regulate certain forms of gambling.
• C) specify clauses that must be included in certain contracts.
• D) prohibit certain contracts based on their subject matter.

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Definitions:

Discrimination

Unfair or prejudicial treatment of individuals based on group, class, or category to which they belong rather than individual merit.

Geometric Figure

A shape or form that consists of points, lines, curves, and surfaces following defined rules or equations in geometry.

Sexual Arousal

The physiological and psychological state of being awake or reactive to sexual stimuli.

Spontaneous Recovery

The reappearance of a conditioned response after a period of rest and with no further conditioning, often observed in behavioral psychology.