To This Day the Taking and Giving of Interest Is

question 67

Short Answer

To this day the taking and giving of interest is forbidden to _______.

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Definitions:

Preexisting Duty Rule

in contract law, states that an agreement to perform an act already legally obligated to is not sufficient consideration for a new promise.

Negative Information

Adverse details or data that can impact an individual or entity's reputation or creditworthiness.

Breach Of Contract

The failure to fulfill the terms or conditions of a contract without a lawful excuse.

Usury Laws

Statutes and regulations intended to protect consumers by limiting the amount of interest that can be charged on a loan.