legal rate of interest

And second, it seems there is significant confusion regarding just what the maximum legal rate of interest is.

The legal rate of interest in France has not, during the course of the present century, been always regulated by the market rate.

When the present annual land-tax was first imposed, the legal rate of interest was six per cent.

He placed their business under control, determined the legal rate of interest, and obliged them to have seals affixed to all their deeds.

In Scotland, though the legal rate of interest is the same as in England, the market rate is rather higher.

Since the legal rate of interest has been reduced to five per cent every hundred pounds stock is supposed to be taxed at twenty shillings only.

Where the legal rate of interest, on the contrary, is fixed but a very little above the lowest market rate, sober people are universally preferred, as borrowers, to prodigals and projectors.

The legal rate of interest throughout the Babylonian Empire was 20%; the laws of Manu permitted 24%, while the laws of the Egyptians only stepped in to prevent more than 100%.

There is a tendency to deny to the capital that thus takes desperate chances its full reward if things go right, and to insist that it shall have barely the legal rate of interest and far less than the return of over-the-counter retail trade.

He kept with his own hand very accurate accounts, a rare thing in those days, and made it a rule never to borrow money, never to engage in speculation of any kind, and never to take more than the legal rate of interest.

Bank of Minneapolis v. First of Omaha Service Corp. case that the National Banking Act of 1863 allowed nationally chartered banks to charge the legal rate of interest in their state regardless of the borrower's state of residence.

The statute of Henry VIII was revived by the 13th of Elizabeth, c. 8, and ten per cent continued to be the legal rate of interest till the 21st of James I, when it was restricted to eight per cent.

If the ship is lost by perils of the sea, the lender loses the money; but if the ship arrives safe, he is to receive the money lent, with the interest or premium stipulated, although it may, and usually does, exceed the legal rate of interest.

While Mr. Hightower was a member of the state legislature he was active in having a state department of agriculture created and in securing the passage of a bill reducing the legal rate of interest from ten to eight per cent per annum.

If the legal rate of interest in Great Britain, for example, was fixed so high as eight or ten per cent, the greater part of the money which was to be lent would be lent to prodigals and projectors, who alone would be willing to give this high interest.

France is perhaps in the present times not so rich a country as England; and though the legal rate of interest has in France frequently been lower than in England, the market rate has generally been higher; for there, as in other countries, they have several very safe and easy methods of evading the law.