A usuary is an individual who is granted the use of something to fulfil their personal and family needs. In Roman law, they are referred to as usuarius.
The term “usuary” (pronounced yoo-zhoo-er-ee) is a legal term that refers to a person who has the right to use a thing for their personal and family needs. In Roman law, this person is also known as a “usuarius.” For example, in a trust, the beneficiary who receives the income from the trust assets is considered the usuary. This means that the beneficiary benefits from the use of the income from the trust assets, but does not own the assets themselves. The beneficiary is considered the usuary because they have the right to use the income to satisfy their personal and family needs.
Usury is the illegal practice of charging excessive interest on a loan, typically at a rate higher than what is allowed by law.
The maximum allowable interest rate for usury varies by state and country, but it is typically set by law to protect borrowers from being charged excessively high interest rates.
The consequences of usury can include legal action, fines, and the requirement to repay any excessive interest charged.
If you believe you are a victim of usury, you should consult with a legal professional who can review the terms of your loan and determine if the interest rate charged exceeds the legal limit.
Yes, if you have been charged excessive interest on a loan, you may have grounds to sue for usury. It is important to consult with a lawyer to understand your legal options.
Yes, lenders who charge excessive interest rates can be prosecuted for usury and may face legal consequences.
Some states and countries have exceptions to usury laws for certain types of loans, such as mortgages or commercial loans. It is important to understand the specific laws in your jurisdiction.
In some cases, a usurious loan may be voided by a court, meaning that the borrower is not required to repay the excessive interest charged.
If you believe you have been a victim of usury, you can report it to your state’s attorney general’s office or a consumer protection agency.
If you are being threatened with usury, it is important to seek legal advice immediately to understand your rights and options for recourse.
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: 17th April 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/usuary/
- Modern Language Association (MLA):Usuary. dlssolicitors.com. DLS Solicitors. May 09 2024 https://dlssolicitors.com/define/usuary/.
- Chicago Manual of Style (CMS):Usuary. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/usuary/ (accessed: May 09 2024).
- American Psychological Association (APA):Usuary. dlssolicitors.com. Retrieved May 09 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/usuary/
Our team of professionals are based in Alderley Edge, Cheshire. We offer clear, specialist legal advice in all matters relating to Family Law, Wills, Trusts, Probate, Lasting Power of Attorney and Court of Protection.
All author posts