Full Text

Loans


Subject Religion » Judaism

DOI: 10.1111/b.9780631187288.1992.x


Extract

According to Jewish law, whoever borrows money must return it at a fixed time. Otherwise the lender may recover the value of the loan in the form of the borrower's property. If the loan is made by a promissory note, it may even be recovered from property sold by the debtor after the date of the note. Originally a Sabbatical Year canceled all debts, but the sage Hillel instituted the prosbul, a legal document which allowed the collection of debts to be postponed until after the Sabbatical Year. According to the Bible loans with interest are forbidden; nonetheless, permission was given tocharge interest under certain conditions. ... log in or subscribe to read full text

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Table of Contents

The Blackwell Dictionary of Judaica



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