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Jefferson County Online
A part of the IAGenWeb and USGenWeb Projects
Interest
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The following is a chapter from "The History of Jefferson County, Iowa", Page 293, published by the Western Historical Company of Chicago in 1879.
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INTEREST.
The legal rate of interest is six per cent. Parties may agree, in writing, on a rate not exceeding ten per cent. If a rate of interest greater than ten per cent. is contracted for, it works a forfeiture of ten per cent. to the school fund, and only the principal sum can be recovered.
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