Statute of Vladimir Monomakh of 1113

Statute of Vladimir Monomakh of 1113

 

a statute limiting the rez (interest) that usurers could charge on loans. The statute forbade the collection of more than 100 percent interest on a debt; if a creditor received 150 percent he lost his rights to the principal. The statute permitted charges at the annual rate of ten kuny per grivna; this sum amounted to a 20 percent charge at the time when there were 50 kuny to the grivna and 40 percent charge when there were 25 to the grivna. The statute was adopted at a meeting in the village of Berestovo near Kiev, by Vladimir Monomakh and the tysiatskie (militia leaders) of Kiev, Belgorod, Pereiaslavl’, and other cities. The meeting took place after the death of the grand prince of Kiev Sviatopolk Iziaslavich and after the Kiev Rebellion of 1113 against the usurers and boyars. The statute is included in the expanded version of the Russkaia Pravda.

REFERENCES

Pravda Russkaia, vol. 2. Moscow-Leningrad, 1947.
Pamiatniki russkogo prava, fasc. 1. Moscow, 1952.
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