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Black Corporation: Joseon - Chapter 142
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... rowed goods from exceeding the principal amount.
– Capping monthly interest at no more than three percent of the principal.
The announcement of this interest rate limitation law was met with significant backlash. However, the court pushed back, stating:
– Even in the ‘Great Ming Law’, it is stated that monthly interest should not exceed three percent, and no matter how long the term, the total interest should not surpass the principal.
Those opposed continued thei ...
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