Section 4

Contracts for usufruct of property in lieu of interest .

The Usury Laws Repeal Act, 1855

  • Act 28 of 1855
  • Ministry of Finance
  • Department of Economic Affairs
About this Act

An Act for the repeal of the Usury Laws.

All sections
    A mortgage or other contract for the loan of money, by which it is agreed that the use or usufruct of any property shall be allowed in lieu of interest, shall be binding upon the parties.

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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