Should we modify our current usury laws

Assignment Help Other Subject
Reference no: EM131067784

Ancient Middle Eastern legal systems, in all three of the great Abrahamic Religions, Judaism, Christianity, and Islam, completely disallowed the use of ANY usury in the essential laws of commerce. Ancient usury is simply defined as the allowing of contracts for ANY amount of interest in the loaning of money or property. This began to slowly change with the Second Crusades and developed today to allow the charging of interest in any transaction, as long as the amount of interest in not excessive. Of course, the problem comes with each country's and each state's definition of reasonable (non-excessive) interests. Should we modify our current usury laws and, if so, in what manner?

Until 1677 and the creation of the Statute of Frauds in England, all contracts could be either written or oral and yet be equally binding on the parties. After 1677, the law required certain types of contracts (such as contracts to buy or sale land) to be both made in writing and executed with the physical signatures of all of the parties involved. At any time thereafter, either party could challenge authenticity of the physical signature of his/her own handwriting or the handwriting of the other party. Recently, with the increase of ecommerce, electronic signature (non-physical) has become as equally binding as the physical signature with severe limitation allowed in challenging the authenticity. Has this developed out of necessity, or have we simply moved too far with the law accommodating the digital age?

Reference no: EM131067784

Why are these differences so important and worth discussing

What are the most important differences between the Kent and Kendall visions of intelligence. Why are these differences so important and worth discussing. Which vision migh

How does marquis allow for euthanasia

How does Marquis allow for euthanasia? How does the permissibility of euthanasia differ from the implications of the discontinuation account? How is Marquis able to match our

Cultural representations of social class

In what ways does culture related to social class impact identity and pride within specific social classes and in what ways does culture help keep others outside of a specific

Develop healthy-city initiative suitable for implementation

Develop a 4 page healthy-city initiative suitable for implementation by your city. What kinds of disasters, both natural and man-made, are most likely to occur in your area?

Analysis of your assigned quantitative research design

Post 3- to 5-pages analysis of your assigned quantitative research design. Your analysis should include:  A brief description of the design and where it is most appropriately

Analysis of comparative experiences of hearing loss-deafness

Analysis of Comparative Experiences/Expressions of Hearing Loss and Deafness. Content: In the paper, you will explain the own experiences with pseudo-hearing loss.

Who would you identify as the key competitors

You have been hired by Google as a marketing consultant to help provide some strategic insights for Google to consider when the company develops its market plans for the Goo

Operant conditioning and social learning theory

How did your parents most influence your behavior growing up? Was is through classical conditioning? What about operant conditioning and social learning theory? Which theory


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd