| 词条 | Mohatra contract |
| 释义 |
A mohatra contract is way of loaning money with interest without breaking the letter of the usury laws. The lender sells the borrower a trivial object to be paid for on the loan due date. The borrower then sells the same object back immediately for cash at the price minus the interest. [1][2] An example would be a lender selling a pencil for $120 to be paid in a year's time and immediately repurchasing it for $100 in cash. The borrower has effectively borrowed $100 at a 20% interest rate.[3] {{anchor|Etymology}}NameThe term was shared among Latin and Western European languages, from Arabic mokhatara ({{lang|ar|مخاطرة}}). HistoryMohatra contract was so common that it became a standard commercial term used for centuries. Issuing a decree in 1679, the Holy Office of the Vatican condemned the idea that 'contractus "mohatra" licitus est', stating that such contracts violated the biblical prohibitions on usury.[4] References1. ^https://books.google.com/books?id=D1uh8IRcNs0C&pg=PA48&lpg=PA48&dq=Mohatra+Contracts&source=bl&ots=MFOAXuD_5i&sig=xJb181lDMLpktc97YeImPqwRFqM&hl=en&sa=X&oi=book_result&resnum=1&ct=result 2. ^{{cite book|last=Stephen|first=Leslie|authorlink=Leslie Stephen|title=Studies of a Biographer|accessdate=2012-07-11|volume=2|year=1898|publisher=Duckworth and Co|location=London|page=256|chapter=Pascal}} 3. ^False Economy: A surprising economic history of the world, Alan Beattie, page 130 4. ^False Economy: A surprising economic history of the world, Alan Beattie, page 130 1 : Loans |
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