Word: lender
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Dates: during 1901-1901
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...trespass on the space of your paper to give a warning to some of the students of Harvard. There is a practice which is somewhat general among money lenders to induce students to give post dated check instead of promissory notes in payment of loans. The lenders say they would rather have a post dated check even if there has never been anything standing in the name of the maker in the bank. They represent this check to be practically equivalent to a promissory note. Many of the college men are led into this trap and do not consider...
...lender in many cases will maintain that the student represented that he had or that he would have money in the bank on the date of payment and so a prima facie case of obtaining money under false pretence is established...
Thus exorbitant rates of interest amounting in many cases to one hundred percent for a two months' loan, are extorted: and the lender evades the provisions of $3 of Chapter 77. "When there is no agreement for a different rate, the interest of money shall be at the rate of six dollars upon each hundred dollars for a year, but it shall be lawful to pay, reserve, or contract for any rate of interest or of discount: but no greater rate than that before mentioned shall be recovered in any action, unless the agreement to pay such greater rate...