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Loan Sharking
A loan shark is a person who offers loans at extremely high interest rates, has strict terms of collection upon failure, and generally operates outside the law. Description Because loan sharks operate mostly illegally, they cannot reasonably expect to be able to use the legal system to collect such debts, they often resort to enforcing repayment by terms of blackmail and threats of violence. Historically, many moneylenders skirted between legal and criminal activity. In the recent western world, loan sharks have been a prominent feature of the criminal underworld. Loan sharking is not to be confused with predatory lending with extremely high interest rates such as payday or title loans, which is sometimes considered to be "loan sharking" (or, at least, unfavorably compared to loan sharking by critics) regardless of whether it is legal. A key difference between "traditional" loan sharking and predatory lending is that lenders alleged to be engaged in the latter practice are e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Power Of Attorney
A power of attorney (POA) or letter of attorney is a written authorization to represent or act on another's behalf in private affairs (which may be financial or regarding health and welfare), business, or some other legal matter. The person authorizing the other to act is the ''principal'', ''grantor'', or ''donor'' (of the power). The one authorized to act is the ''agency (law), agent'', attorney, or in some common law jurisdictions, the attorney-in-fact. Formerly, the term "power" referred to an legal instrument, instrument signed under Seal (contract law), seal while a "letter" was an instrument under hand, meaning that it was simply signed by the parties, but today a power of attorney does not need to be signed under seal. Some jurisdictions require that powers of attorney be Notary, notarized or witnessed, but others will enforce a power of attorney as long as it is signed by the grantor. Attorney-in-fact The term ''attorney-in-fact'' is used in many jurisdictions instead o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misdemeanor
A misdemeanor (American English, spelled misdemeanour elsewhere) is any "lesser" criminal act in some common law legal systems. Misdemeanors are generally punished less severely than more serious felonies, but theoretically more so than administrative infractions (also known as minor, petty, or summary offences) and regulatory offences. Typically, misdemeanors are punished with monetary fines or community service. Distinction between felonies and misdemeanors A misdemeanor is considered a crime of lesser seriousness, and a felony one of greater seriousness. The maximum punishment for a misdemeanor is less than that for a felony under the principle that the punishment should fit the crime. One standard for measurement is the degree to which a crime affects others or society. Measurements of the degree of seriousness of a crime have been developed. In the United States, the federal government generally considers a crime punishable with incarceration for not more than ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Humiliation
Public humiliation or public shaming is a form of punishment whose main feature is dishonoring or disgracing a person, usually an offender or a prisoner, especially in a public place. It was regularly used as a form of judicially sanctioned punishment in previous centuries, and is still practiced by different means in the modern era. In the United States, it was a common punishment from the beginning of European colonization through the 19th century. It fell out of common use in the 20th century, though it has seen a revival starting in the 1990s. Shameful exposure Public humiliation exists in many forms. In general, a criminal sentenced to one of the many forms of this punishment could expect to be placed in a central, public, or open place so that his fellow citizens could easily witness the sentence and, occasionally, participate in it as a form of "mob justice". Just like painful forms of corporal punishment, it has parallels in educational and other rather private pun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Default (finance)
In finance, default is failure to meet the legal obligations (or conditions) of a loan, for example when a home buyer fails to make a mortgage payment, or when a corporation or government fails to pay a bond which has reached maturity. A national or sovereign default is the failure or refusal of a government to repay its national debt. The biggest private default in history is Lehman Brothers, with over $600 billion when it filed for bankruptcy in 2008. The biggest sovereign default is Greece, with $138 billion in March 2012. Distinction from insolvency, illiquidity and bankruptcy The term "default" should be distinguished from the terms " insolvency", illiquidity and "bankruptcy": * Default: Debtors have been passed behind the payment deadline on a debt whose payment was due. * Illiquidity: Debtors have insufficient cash (or other "liquefiable" assets) to pay debts. * Insolvency: A legal term meaning debtors are unable to pay their debts. * Bankruptcy: A legal finding ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vandalism Va |
