Saturday, March 30, 2013

Loans in a currency that is dropping in value

Hi,

It is assumed that lenders who lend money for periods longer than a day intend to be repaid in a stable currency, even if the actual currency which changes hands is dropping in value rapidly. However, the lender really should stipulate this.

(Rav Moshe Feinstein, Igrot Moshe Orach Chaim 5:43:3)

Good moed,
Mordechai

No comments:

Post a Comment