Many States Impose No Limit on the Rate of Interest

question 59

True/False

Many states impose no limit on the rate of interest that may be charged on loans to corporations.

---

Definitions:

Remedies

Remedies in legal terms refer to the means by which a right is enforced or the violation of a right is prevented, redressed, or compensated.

Essential Purpose

The main or critical reason for which something exists or is done, especially in a legal or contractual context.

Usage of Trade

A common practice or method of dealing recognized and accepted in a particular industry or trade.

Usage of Trade

Customary practices and standards within a particular industry or market that are considered legally binding in commercial transactions.