Categories of Ribbit: Difference between revisions
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===Sales=== | ===Sales=== | ||
# It is permitted for a person to stipulate that if he doesn't deliver a product by a certain date he will have to pay a late fee. Even though generally late fees are considered like interest, it is permitted in the case of a sale since it isn't a loan in essence.<reF>Shulchan Aruch Y.D. 177:18</ref> Nonetheless, it is is only permitted to have a one time late fee. It would be forbidden to stipulate that at every week or any other interval that it isn't delivered there is an increasing late fee. Have such a recurring late fee is interest even with sales.<ref>Chelkat Binyamin 177:164</ref> | # It is permitted for a person to stipulate that if he doesn't deliver a product by a certain date he will have to pay a late fee. Even though generally late fees are considered like interest, it is permitted in the case of a sale since it isn't a loan in essence.<reF>Shulchan Aruch Y.D. 177:18</ref> Nonetheless, it is is only permitted to have a one time late fee. It would be forbidden to stipulate that at every week or any other interval that it isn't delivered there is an increasing late fee. Have such a recurring late fee is interest even with sales.<ref>Chelkat Binyamin 177:164</ref> | ||
# Some only permit a late fee with a sale if it is structured such that after the late fee is incurred it can be paid immediately or over a certain period of time. If it is stipulated that the late fee once incurred is not due to be paid until a later date, some say that it is forbidden, while others permit it.<ref>The Bach forbids, while Taz 177:23 permits. Shach 177:37 according to the old version forbids it, but according to the Chavot Daat's emendation permits it.</ref> | |||
==Judging by the Time of Stipulation== | ==Judging by the Time of Stipulation== | ||
