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Law of Debt




Page: 1/4


Hindu Books > Hindu Scriptures > The Institutes Of Vishnu > Law of Debt

VI.

Page 1

1. A creditor shall receive his principal back from his debtor exactly as he had lent it to him.

2. (As regards the interest to be paid), he shall take in the direct order of the castes two, three, four, or five in the hundred by the month (if no pledge has been given).

3. Or let debtors of any caste pay as much interest as has been promised by themselves.

4. After the lapse of one year let them pay interest according to the above rule, even though it have not been agreed on.

5. By the use of a pledge (to be kept only) interest is forfeited.

[VI. 2. M. VIII, 142; Y. II, 37.--1, 2. Colebrooke, Dig. I, 2, XXXI.--3. M. VIII, 157; Y. II, 38.--4. Colebrooke, Dig. I, 2, LII.--5. M. VIII, 143; Y. II, 59; Gaut. XII, 32; Colebrooke, Dig. I, 2, LXXVIII.--6. Y. II, 59; Colebrooke, Dig. I, 3, LXXXII.--7. M. VIII, 151; Gaut. XII, 31; Colebrooke, Dig. I, 3, CX.--8. Colebrooke loc. cit.--9. Colebrooke, Dig. I, 3, CVII.--10. Y. II, 44; Colebrooke, Dig. I, 2, LXXVII.--11-15. M. VIII, 151; Y. II, 39; Gaut. XII, 36; Colebrooke, Dig. I, 2, LXIV.--16, 17. Colebrooke, Dig. I, 2, LXX.--18, 19. M. VIII, 50, 176; Y. II, 40; Colebrooke, Dig. I, 6, CCLII.--20, 21. M. VIII, 139; Y. II, 42; Colebrooke, Dig. I, 6, CCLXXVII.--22. Y. II, 20-24, 25. Y. II, 94; Colebrooke, Dig. I, 6, CCLXXXIII.--26. Y. II, 93; Colebrooke, Dig. I, 6, CCLXXXVI.--27. Y. II, 50; Colebrooke, Dig. I, 5, CLXVIII.--28. Colebrooke, Dig. I, 5, CLXVIII.--29. Gaut. XII, 40.--29, 30. Y. II, 51; Colebrooke, Dig. I. 5, CCXX,--31-33. Y. II, 46; Colebrooke, Dig. I. 5, CCVIII.--34-36. M VIII, 166; Y. II, 45.--38, 39. M. VIII, 166, 167; Y. II, 45; Colebrooke, Dig. I, 5, CXCII.--41. M. VIII, 158, 160; Y. II, 53; Colebrooke, Dig. I, 4, CXLIV.--42, 43, Y. II, 55, 56; Colebrooke, Dig. I, 4, CLVI, CLXI.

I, 2. Colebrooke loc. cit. seems to have translated a different reading.]

6. The creditor must make good the loss of a, pledge, unless it was caused by fate or by the king.

7. (The pledge must) also (be restored to the debtor) when the interest has reached its maximum amount (on becoming equal to the principal, and has all been paid).

8 But he must not restore an immovable pledge without special agreement (till the principal itself has been paid).

9. That immovable property which has been delivered, restorable when the sum borrowed is made good, (the creditor) must restore when the sum borrowed has been made good.

10. Property lent bears no further interest after it has been tendered, but refused by the creditor.




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