A __________ is a law establishing a maximum rate of permissible interest for which a lender and borrower of money may contract.
A)wager
B)usury statute
C)Sunday statute
D)None of the above.

Question

Quizplus · Accepted Answer

A usury statute is a law that sets a maximum interest rate that lenders and borrowers can agree upon. This is to prevent lenders from charging excessive interest rates, which can lead to borrowers being unable to repay their loans, and can result in financial distress for both parties.

A __________ Is a Law Establishing a Maximum Rate of Permissible