Ubi aberat animus foenerandi is a Latin phrase that signifies the absence of intention to charge a usurious interest. In other words, a lender cannot be held accountable for imposing an exorbitant interest rate unless they had the deliberate intention to do so. This concept is akin to hidden usury, where a lender conceals the true expense of borrowing.
Ubi aberat animus foenerandi, a Latin term meaning “where the intention of taking a usurious interest was lacking,” is frequently employed in legal contexts. Historically, a lender was not held accountable for usurious provisions in a contract unless they had the intention of exacting excessive interest. For instance, if a lender lends money to a borrower at a rate higher than the legal limit but without the intention of exploiting the borrower, they would not be held liable for usury. Conversely, if the lender had the intention of charging a usurious interest rate, they would be deemed in violation of usury laws. Another scenario could involve a lender and borrower agreeing on an interest rate exceeding the legal limit, but the lender lacking the intention of charging a usurious rate. In such a case, the lender would not be held responsible for violating usury laws. These examples illustrate how the concept of ubi aberat animus foenerandi is utilised to determine a lender’s liability for usury, emphasizing the significance of the lender’s intention in assessing whether an excessive interest rate was imposed.
“Ubi Aberat Animus Foenerandi” is a Latin phrase that translates to “Where the intention of lending is absent.” It refers to a legal principle that states a loan agreement is not valid if the lender did not have the intention to lend the money.
If it can be proven that the lender did not have the intention to lend the money, the loan agreement can be deemed invalid. This means that the borrower may not be obligated to repay the loan.
To prove “Ubi Aberat Animus Foenerandi,” evidence such as emails, text messages, or witness testimonies that demonstrate the lender’s lack of intention to lend the money may be required.
Yes, “Ubi Aberat Animus Foenerandi” can be used as a defence in a lawsuit if the borrower can provide sufficient evidence to support the claim that the lender did not have the intention to lend the money.
Yes, “Ubi Aberat Animus Foenerandi” can potentially apply to all types of loans, including personal loans, business loans, and even mortgages, as long as the lack of intention to lend can be proven.
Yes, if it can be proven that the lender did not have the intention to lend the money at the time of entering into the agreement, the borrower may be able to cancel the loan agreement even after receiving the funds.
If “Ubi Aberat Animus Foenerandi” is successfully proven, the borrower may be relieved from the obligation to repay the loan. Additionally, they may be entitled to seek damages for any losses or harm suffered as a result of the invalid loan agreement.
Yes, if the borrower can prove that the loan agreement is invalid due to “Ubi Aberat Animus Foenerandi,” it can be used as a defence against a debt collection lawsuit.
The time limitations to raise the defence of “Ubi Aberat Animus Foenerandi” may vary depending on the jurisdiction and the specific circumstances of the case. It is advisable to consult with a legal professional to determine the applicable time limitations.
Yes, “Ubi Aberat Animus Foenerandi” can be relevant in criminal cases involving fraudulent loans. If it can be proven that the lender had no intention to lend the money and engaged in fraudulent activities, it may support the defence or prosecution’s case.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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