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Shabbat Parashat Toldot 5781

Toldot | 5 Kislev 5781 | 21/11/2020




P'ninat Mishpat: Losses from Financially (and Morally) Bad Loans – part I

The plaintiff (=pl) and the defendant (=def) were the primary players in a business (=bus) that provided large high-risk, high-interest loans to individuals (=bor); pl ran the business, and def was the silent owner. Bus advanced cash to individuals at interest rates of up to 8% monthly in return for much higher post-dated checks. After its own initial investment of funds, bus received cash from another business (=sup) to whom they gave those checks for a lower rate (2.1%) of interest (bus’s profits were from the margin); pl and/or def served as cosigners to sup. Pl got some borrowers to give cash instead of honoring the checks, even when their checks were by sup. Several of the borrowers have defaulted, bus has closed, and pl and def now owe sup and other investors many hundreds of thousands of NIS. Pl demands the following: 1. To be released from debts as a cosigner to sup (441,000 NIS) and Mr. P. (400,000 NIS), because he was improperly pressured. 2. To have money he and his mother invested (350,000 NIS) and expenses he outlaid for bus (149,000 NIS) returned. 3. Back-pay for months of work. Def claims that pl caused great losses by surpassing the amount of credit def agreed to, especially for some very large loans. Pl admitted in discussion with Mr. P, who mediated, that he should pay for much of the losses (1.25M NIS plus interest). Def claims to have not promised pl a salary, just 15% of profits.


Dedication

We daven for a complete and speedy refuah for:

Nir Rephael ben Rachel Bracha
Rivka Reena bat Gruna Natna

Vicki Victoria bat Daisy

Yishai ben Tamar

Meira bat Esther

Orit bat Sarah

Together with all cholei Yisrael

 

Hemdat Yamim is dedicated

to the memory of:

Those who fell in wars

for our homeland

 

Eretz Hemdah's beloved friends

and Members of

Eretz Hemdah's Amutah

 

Rav Shlomo Merzel z”l
Iyar 10 5771

 

Rav Reuven Aberman z"l

Tishrei 9 5776

 

Mr. Shmuel Shemesh  z"l
Sivan 17 5774

 

Mr. Moshe Wasserzug z"l

Tishrei 20 5781

 

R' Eliyahu Carmel z"l

Rav Carmel's father

Iyar 8 5776

 

Mrs. Sara Wengrowsky

bat RMoshe Zev a”h.

Tamuz 10 5774

 

Rav Asher Wasserteil z"l

Kislev 9 5769

 

R'  Meir ben

Yechezkel Shraga Brachfeld z"l

&

Mrs. Sara Brachfeld z"l

Tevet 16 5780

 

R'  Yaakov ben Abraham & Aisha

and

Chana bat Yaish & Simcha

Sebbag, z"l

 

Rav Yisrael Rozen z"l
Cheshvan 13 5778

 

Rav Benzion Grossman z"l
Tamuz 23 5777

 

Rav Moshe Zvi (Milton)

Polin z"l

Tamuz 19 5778

 

R' Abraham Klein z"l

Iyar 18 5779

&

Mrs. Gita Klein z"l

4  Av

 

Hemdat Yamim
is endowed by Les & Ethel Sutker
of Chicago, Illinois
in loving memory of
Max and Mary Sutker

 

Hemdat Yamim

A weekly divrei Torah leaflet: A Glimpse at the Parasha, Ask the Rabbi, From the writings of Harav Avraham Yitzchak Hakohen Kook, zt”l, Pninat Mishpat (Jewish Monetary Law).

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