Subject_1 DECISIONS of the LORDS OF COUNCIL AND SESSION, reported by SIR JOHN LAUDER OF FOUNTAINHALL Subject_2 WINTER SESSION. - Anni 1973.
Anent Usury
1674.
June.
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About this time I heard it queried, if it was usury to take more annualrent from the King, in advancing him money, than 6 of the 100. Sir George Lockhart was of opinion, in a contract with the King, it would fall under the compass of usury; but where it is done by way of traffic, merchandising, or bills of exchange, even centesimæ usuræ, which is 12 of the 100, might lawfully be taken: as both Sir William Sharp and Sir Patrick Morray had practised, when they lent some money for defraying the charges of the Commissioners to the Union in 1670; the L.30,000 Sterling imposed on the country by the Parliament for that end, not being so soon got up. Some may think, may not the King give as much annualrent as he pleases? He is not tied by these positive statutes; he is above the municipal laws; he may dispense with them in his own particular. I confess he may gift as much as he thinks fit; but to pay money, nomine usuræ, seems unsafe to the receiver: seeing in these acts, rex utitur jure privati; et tanquam minor et læsus, he may be restored. See Guibertus Costanus, cap. 1. Quœstionum, et Titulum Cod. de fiscalibus usuris, ibique Ant. Perez in commentario.
