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Simple English definitions for legal terms

usury law

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A quick definition of usury law:

Usury law: A rule that says lenders can't charge too much interest on loans. This is to protect people from being taken advantage of and having to pay back more money than they can afford.

A more thorough explanation:

Definition: A usury law is a legal regulation that prevents lenders from charging excessively high interest rates on loans.

For example, let's say a lender offers a loan with an interest rate of 50%. This would be considered usury and would be illegal under usury laws. In contrast, if the lender offers a loan with an interest rate of 10%, this would be considered legal under usury laws.

Usury laws are in place to protect borrowers from being taken advantage of by lenders who charge exorbitant interest rates. These laws vary by state and country, but they generally set a maximum interest rate that lenders can charge.

usurpation | usus

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

1a2b3c4d26z

15:51

@JazzyGazelle: also why tf did they keep telling you it would come out sooner

JazzyGazelle

15:52

Yes supposedly by next tuesday IF they're actually being accurate this time. During the call yesterday afternoon they said they can't PROMISE my decision will be out, but that they will basically have a wave before next wed (since thanksgiving break happens). Dean was the one who kept changing the dates on me, I think they just had a HUGE number of applications that they didn't really expect.

HopefullyInLawSchool

15:52

@ImpartialLion: Im not even going to a t14 because I cant get in, you got this

1a2b3c4d26z

15:53

Oh okay, that makes sense. All credit to them, they're dealing with a billion apps probably. Not an easy job at all. I'll wait patiently :)

JumpySubsequentDolphin

15:53

I just realized my hair cream has glitter in it wtf

ImpartialLion

15:53

Truly appreciate all the kind words! I'm neurotic as hell (prbly not a surprise) and I feel like a bozo complaining

JumpySubsequentDolphin

15:53

my whole hand is soarkly

JumpySubsequentDolphin

15:53

what is this

ImpartialLion

15:53

Missing Chicago, Cornell and HLS II invites makes me crazy nervous tho

SplitterusClitterus

15:53

@Jazzy what school? also what hair cream dolphy tht sounds so cute.

SplitterusClitterus

15:54

did anyone in chat apply to Knight hennessy?

[] texaslawhopefully

15:54

@ImpartialLion: I would take your situation over mine lmao

[] texaslawhopefully

15:54

you are having a great cycle thus far

[] texaslawhopefully

15:55

@SplitterusClitterus: No, because I thought I had zero chance at it. Kinda regretting it, but whatever

AcousticUnequalYak

15:55

both you and texas are big ballin i am tweaking cuz i only have gulc rn

AcousticUnequalYak

15:55

i know thats neurotic too

AcousticUnequalYak

15:55

all relative

ImpartialLion

15:55

We're all neurotic, but that's what makes this site great

ImpartialLion

15:56

Thanks btw Tx! Idk tho, your situation seems stable. Hitting all the important II invites and moving along

babycat

15:56

KH deadline is Dec 1st right?

SplitterusClitterus

15:56

it was oct 8th but to apply to the law school its dec 1

SplitterusClitterus

15:56

did u apply?

[] texaslawhopefully

15:57

@ImpartialLion: I missed the NYU wave though and no YLS invite

[] texaslawhopefully

15:57

I am sure we will all get into great places

ImpartialLion

15:57

I feel like NYU will come with time and it's a mess due to app increases. YLS is such a weird invite tho. 30% conversion rate

babycat

15:58

lol clearly not

babycat

15:58

I didn't even know when it was due

HopefullyInLawSchool

15:58

Im hoping UCI wants to accept me ED, i see others with t14 options and it makes me disappointed

AcousticUnequalYak

15:58

im hoping nyu comes thru

AcousticUnequalYak

15:59

that would be awesome

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