Mohatra contract

Mohatra contract

A Mohatra contract is way of loaning money with interest without breaking the letter of the usury laws. The lender sells the borrower a trivial object to be paid for on the loan due date. The borrower then sells the same object back immediately for cash at the price minus the interest. [1]

References

  1. ^ http://books.google.com/books?id=D1uh8IRcNs0C&pg=PA48&lpg=PA48&dq=Mohatra+Contracts&source=bl&ots=MFOAXuD_5i&sig=xJb181lDMLpktc97YeImPqwRFqM&hl=en&sa=X&oi=book_result&resnum=1&ct=result

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