Marshall borrowed $ 1,000 from a bank, payable at the end of one year at the highest

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Marshall borrowed $ 1,000 from a bank, payable at the end of one year at the highest legal interest rate permitted in that state. The bank gave Marshall only $ 750, however, keeping the other $ 250 as part of the “cost” of the loan. Is this loan usurious?
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Business Law Principles and Practices

ISBN: 978-1133586562

9th edition

Authors: Arnold J. Goldman, William D. Sigismond

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