Categories of Ribbit: Difference between revisions
From Halachipedia
→Legal Subterfuge
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# It is forbidden to give a gift when returning a loan when if one doesn’t specify that it is because of the loan.<ref>Rashi 73b s.v. achulei implies that as long as one doesn’t specify that a gift isn’t because of the loan it is permitted even at the time of returning the loan. However, the Rosh b”m 5:67 argues that it is only permitted after payment of the loan. Bet Yosef 160:4 cites the Talmidei Harashba who says that it is only permitted to give an extra gift if it was a sale and not a loan.</ref> | # It is forbidden to give a gift when returning a loan when if one doesn’t specify that it is because of the loan.<ref>Rashi 73b s.v. achulei implies that as long as one doesn’t specify that a gift isn’t because of the loan it is permitted even at the time of returning the loan. However, the Rosh b”m 5:67 argues that it is only permitted after payment of the loan. Bet Yosef 160:4 cites the Talmidei Harashba who says that it is only permitted to give an extra gift if it was a sale and not a loan.</ref> | ||
==Appearance of Interest== | |||
# It is forbidden to couple a fair transaction together with a loan because it appears as interest. For example, a person can't offer an employer an interest free loan and have the employer hire him for a fair wage. Even if the wage is fair and would have been paid even if not for the loan, it is forbidden when they discuss it as part of the same transaction. Furthermore, it is even forbidden if they explicitly state that they are two separate transactions<ref>Maharam cited by Mordechai b"m 316, Shulchan Aruch 177:13. Shach 177:28 clarifies that it is forbidden even though it is a fair wage and would have happened anyway as the Maharam described.</ref> unless they are done at separate occasions.<ref>Chelkat Binyamin 166:48 citing Levush and Chachmat Adam</ref> | |||
# It would be permitted if they did the other transaction and then instead of doing a loan, they did a gift and the other party could return the gift but didn't have to.<ref>Maharam cited by Mordechai b"m 316, Shulchan Aruch 177:13, Rama 166:3. Gra 177:34 in fact argues that it is forbidden according to the Rashba since it has the appearance of a legal subterfuge of interest. He is in disagreement with the Bet Yosef's understanding that the Maharam and Rashba are not at odds.</ref> | |||
==Legal Subterfuge== | ==Legal Subterfuge== | ||
# A person asks for a loan of $100 and the lender isn't interested. The lender counter offers him to lend him $100 worth of a commodity and he can sell it for that value and use the money. Then the borrower takes the commodity worth a $100 and offers the lender to buy back the commodity for $90. If the buyer accepts that deal it is forbidden since in effect the borrower borrowed $90 and is obligated to return $100 which is interest.<ref>Bava Metsia 62b, Shulchan Aruch Y.D. 163:3</ref> | # A person asks for a loan of $100 and the lender isn't interested. The lender counter offers him to lend him $100 worth of a commodity and he can sell it for that value and use the money. Then the borrower takes the commodity worth a $100 and offers the lender to buy back the commodity for $90. If the buyer accepts that deal it is forbidden since in effect the borrower borrowed $90 and is obligated to return $100 which is interest.<ref>Bava Metsia 62b, Shulchan Aruch Y.D. 163:3</ref> | ||
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# If the field as a collateral was used by the lender and for that use a deduction was made to the loan for each year until the entire loan would be paid off, then if there is someone else in between the borrower and lender it is permitted. That is, if the lender rents out the field to someone else and that person then lends it to the borrower it is permitted.<ref>Shulchan Aruch 163:2, 172:2</ref> | # If the field as a collateral was used by the lender and for that use a deduction was made to the loan for each year until the entire loan would be paid off, then if there is someone else in between the borrower and lender it is permitted. That is, if the lender rents out the field to someone else and that person then lends it to the borrower it is permitted.<ref>Shulchan Aruch 163:2, 172:2</ref> | ||
# It is permitted to sell a field to someone and then rent it from them.<ref>Shulchan Aruch 164:3</ref> | # It is permitted to sell a field to someone and then rent it from them.<ref>Shulchan Aruch 164:3</ref> | ||
==Late Fees== | ==Late Fees== | ||
