Which of the following can be a result under state law for violating a usury statute?
A) the interest rate in the contract will be adjusted down to the maximum legal rate
B) the court will not enforce the payment of any interest at all
C) the court will not enforce payment of the principal or the interest
D) the interest rate in the contract will be adjusted down to the maximum legal rate, or the court will not enforce the payment of any interest at all
E) the interest rate in the contract will be adjusted down to the maximum legal rate, the court will not enforce the payment of any interest at all, or the court will not enforce payment of the principal or the interest

Question

Quizplus · Accepted Answer

State law for violating a usury statute can result in a combination of consequences, which includes adjusting the interest rate down to the maximum legal rate, not enforcing the payment of any interest at all, or not enforcing payment of the principal or the interest. Therefore, option E is the best choice.

Which of the Following Can Be a Result Under State