Legal Definitions - danism

Danism is a historical practice of lending money on usury. It comes from the Greek word "daneismos" which means "a loan".

During the Middle Ages, many people borrowed money from lenders who practiced danism. These lenders charged high interest rates, making it difficult for borrowers to repay their debts. For example, if someone borrowed $100, they might have to pay back $120 or more.

Another example of danism can be seen in the story of Shakespeare's play "The Merchant of Venice". In the play, the character Shylock is a moneylender who practices danism. He lends money to the main character, Antonio, and demands a pound of his flesh as collateral if he cannot repay the loan.

These examples illustrate how danism was a common practice in the past, but it was often seen as unfair and exploitative. Today, many countries have laws that regulate the amount of interest that lenders can charge, in order to protect borrowers from excessive fees and charges.