prepayment penalty

A charge assessed against a borrower who elects to pay off a loan before it is due. [Cases: Bills and Notes 429; Usury 61. C.J.S. Bills and Notes; Letters of Credit §§ 100, 234–236, 238; Interest and Usury; Consumer Credit § 172.]

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词条贡献者

双语律师李明，国际知名法学院法律专业，擅长翻译各类与政府监管相关的法律文件。