Business Law

Cover Business Law
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QUESTIONS.
Page 106.— "What is interest? When is interest allowed? What is usury?
Page 107.— Give an illustration? What agreements are not usurious?
Page 108.— What is the rule regarding compound interest ? What is the result of usury? How does the law of place apply to usury.
MASTER Al^D SERTAN"T.
The Parties. — It can almost be said with truth, that nearly «very person, at some time m life, is either a master or a serv- ant. These are the terms used in law. In ordinary business language, the
...master is called the employer, and the servant the employee. Both parties must be of full age. An infant is not bound by a contract to perform services. An infant may recover m a suit at law, whatever the services performed are worth, although greater than the price for which he has agreed io work. The parents of an infant are entitled to his wages.
Unless the parents have given him his time, they can collect his wages although payment has been made to the infant himself.
Tlie Nature of the Contract.


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