Outrageously Funny Word Dictionary :: Inurement

👉 Inurements are a type of financial penalty or interest that is imposed on an individual or entity for non-payment of a debt. These penalties can be either fixed (as in the case of interest) or variable, meaning they adjust according to the borrower's creditworthiness. For example, if you owe $10,000 and are late by 3 months, your lender may charge an interest rate of 5% per month on the amount due. This means that every month

inurements

👉 Inurement is a legal concept that refers to the act of purchasing goods or services from another party without paying for them upfront. This can be done through various means such as credit, debit, cash, or other payment methods. Inurement is commonly used in contracts and agreements to avoid obligations.

inurement