Thursday, September 3, 2009

Reaction towards Aristotle



According to the provision of obligation under Book 4 civil code of the Phil. Title I article 1175. Usurious transaction shall be governed by special law. Simple loan muttum is a contract where by one of the parties delivers to another money or consumable thing upon the condition that the same amount of the same kind & quality shall be paid.

The above article is inspired by Aristotle. Aristotle is an anti-usury advocate. We knew that even if its not already written in civil law, usury is violation in natural law. Usury transaction is contracting or receiving interest in excess of the amount allowed by law for loan or use of money. Currently, I watched XXX when Tambunting was issued as usurious transaction. Since Aristotle is against to those loan shark, he is also against to those people who accumulate to much wealth. Just analyze how greed you are when you possess that deeds.



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