The basis of any government is theft, lies and violence - Hristo Botev;

The basis of any government is theft, lies and violence - Hristo Botev; "Strange things are people. Steal five dollars and you dirty thief. But you Steal thousands of dollars to your character or government." / Terry Pratchett /
Tonight we will talk about probably the most hated word for ordinary people - INTEREST!
This is the interest rate (default interest, penalties, etc.), agreed by the creditor in any type of contract (eg. Loan agreement, lease, etc.), which is characterized in that its size is much higher than agreed in the socio-economic relations "normal" ema awards 2011 size. Eg. if the mass interest on bank loans are about 10%, the excessiveness will occur when the rate is several times 10%. Just how extreme? There is no single legal test, but the case law generally accepts sizes above 30-50% YoY excessive. "But I have a perfect agreement with a licensed credit institution and it is clearly ema awards 2011 written that interest me 100%". Exactly. And those credit institutions rely on exactly that - to scare customers that their contracts are fully corrected and if not paid will give the court. But "good standing contract" is not equivalent to "a valid contract." Even the finest of contract if it exceeds the threshold for excessiveness is void - and that means that de jure never produced the intended effect (although de facto loan was granted and disbursed). Or quite simply ema awards 2011 - even if it is recorded that such interest is due - interest due. And what can be done in this case? Should know that their contracts are paltry paltry principle - ie Court is not required to declare ema awards 2011 them as such. But the country that rely on them (eg. Credit institution) has every right to claim that the contract is not void. And in this situation ema awards 2011 the only option remains the sanction of the court - ie To take a case in which the court held that the contract or any part thereof is void and that it excessive ema awards 2011 interest due. An important detail is that all of the above does not apply when the contract is between two traders. Traders, being professionals in their field, are free to negotiate what they consider fit, incl. and very high interest rates.
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