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Simple English definitions for legal terms
usurarius
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A quick definition of usurarius:
Term: USURARIUS
Definition: A person who lends money at a very high interest rate is called a usurarius. This is an old term that was used in the past to describe someone who was a usurer. A usurer is someone who charges a lot of money for lending money to others. It is not a good thing to be a usurer because it can cause people to become very poor and unable to pay back their debts.
A more thorough explanation:
USURARIUS
Usurarius is a Latin term used in law to refer to a person who lends money at an exorbitant rate of interest, commonly known as a usurer.
1. John borrowed $1000 from a moneylender and agreed to pay back $1500 in six months. The moneylender charged an interest rate of 50%, making him a usurarius.
2. The practice of charging high-interest rates by moneylenders was common in medieval Europe, and many usurarii made a fortune by exploiting the poor.
The term usurarius refers to a person who lends money at an excessively high rate of interest, often taking advantage of the borrower's desperate situation. The examples illustrate how moneylenders charged exorbitant interest rates, making them usurarii. Such practices were prevalent in medieval Europe, where many people fell into debt traps and were unable to repay their loans, leading to dire consequences.