A Borrower Cannot Effectively Agree to Waive the Benefits of a Usury

question 7

True/False

A borrower cannot effectively agree to waive the benefits of a usury law,because such an action is considered contrary to public policy.

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Definitions:

Southern Democrats

Members of the Democratic Party in the southern United States, historically associated with pro-slavery and segregationist policies until the mid-20th century.

New Deal

Initiatives including programs, public works, fiscal reforms, and regulatory measures were launched by President Franklin D. Roosevelt throughout the 1930s in the United States to help the nation recover from the Great Depression.

Union Membership

The status of belonging to a labor union, an organization that represents workers in negotiations with employers regarding wages, working conditions, and other employment rights.