New Jersey Real Estate Practice Exam Practice Question
In many states, usury laws
Correct Answer: D
Rationale: Usury laws are designed to protect consumers by establishing a maximum rate of interest that lenders can charge on loans, ensuring that borrowing remains fair and affordable.
Option A is incorrect as it pertains to land use regulations, not interest rates. Option B misrepresents usury laws, which do not grant rights to use property; they focus on loan terms. Option C incorrectly describes usury laws as tax regulations, while they specifically address interest rates on loans, not taxation. Thus, only option D accurately reflects the purpose of usury laws.
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