Droit des affaires
8 important questions on Droit des affaires
What risk does a lender face if the borrower is insolvent?
- Risk of extending loan duration
- Lender bears this risk
What law was enacted in Senegal to control interest practices?
- Law No. 98-33 from 17/04/1998
- Mentioned in Article 541 COCC
What type of contract is a money loan considered?
- Requires cash handover
- Unilateral contract
- Involves an "interest"
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What does the contract formation follow?
- General rules of common law
- Special interest rate limitations
What does Article 540 COCC specify about interest?
- Permits stipulating interest for loans
- Article 542 requires written and notarized agreements
How is interest set in Senegal?
- By law or party agreement
- Equals BCEAO discount rate +1%
What is the discount rate of BCEAO in civil matters?
- 10%
- Maximum debtor rate is 11% in civil
What is Article 541 COCC's stance on usury?
- Prohibits concealed high-interest loans
- Protects against financial exploitation
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