Pawnbrokers Act 1634
PAWNBROKERS ACT 1634 | ||
CHAP. XXII. | ||
An Act against Usury. | ||
37 H. 8. g. Eng. 21 J. 1. 17. Eng. 2 Anne 16. 8 G. 1. 13. 5 G. 2. 7. | ||
More than 10l. for forbearance of 100l. for a year shall not be taken upon contract for loan of money, wares, &c. | ||
Bonds and assurances where more reserved, void. | ||
Treble value forfeited. | ||
FOR the avoyding of excessive usury heretofore commonly used in this kingdom ; be it enacted by the King’s most excellent Majesty, the lords spirituall and temporall, and the commons in this present Parliament assembled, That no person or persons whatsoever from and after the first day of May next ensuing, upon any contract to be made after the said first day of May, shall take directly or indirectly for loane of any moneyes, wares, merchandize, or other commodities whatsoever, above the value of ten pounds for the forbearance of one hundred pounds for a yeare, and so after that rate for a greater or lesser summe, or for a longer of shorter time, and that all bonds, contracts and assurances whatsoever, made after the time aforesaid, for payment of any principall, or money to be lent, or covenanted to be performed upon, or for any usury, whereupon or whereby there shall be reserved or taken above the rate of ten pounds in the hundred, as aforesaid, shall be utterly voyd ; and that all and every person and persons whatsoever, which shall after the time aforesaid, upon any contract to be made, take, accept and receive, by way or means of any corrupt bargain, loane, exchange, chevisance, shift or interest of any wares, merchandizes, or other things whatsoever, by any deceitfull way or means, or by any covin, engine, or deceitfull conveyance, for the forbearing or giving day of payment for one whole yeare, of and for their money, or other thing, above the summe of ten pounds for the forbearing of one hundred pounds for a yeare, and so after that rate for a lesse or greater summe, or for a longer or shorter time, shall forfeit and lose for every such offence the treble value of the moneys, wares, merchandize, and other things so lent, bargained, sold, exchanged or shifted. |