PEH406

A had taken out a mortgage with a non-Jew for the repair of his house at an interest rate of 4%, with the condition that the creditor would not terminate the mortgage for 20 years if the interest payments were made punctually, but the debtor could repay the amount in a lump sum. A, who wanted to redeem the mortgage but only had a partial amount available, wanted to borrow the shortfall from his business friend B in England in pounds at 3% interest. A was willing to issue a promissory note in British pounds to B to eliminate the currency risk for B. B had religious concerns. Meir ben Abraham Hacohen Alfasi considered these concerns justified not only because of the interest but also because of the obligation to repay in British pounds. [The terms "scheepe kennis" (probably ship's acquaintance) and "exccutio" (probably execution) are interesting. The first two terms are explained in Hebrew.]

4

53

1761-01-10

1761-04-05

Salem, Salomo