Word: legalizes
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Dates: during 1960-1969
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...statements whether the Dean's objections are to the fact that such relations occur or to the place in which they occur. If the former, he is unrealistic. Sexual urges are strong in young men and women between the ages of 16 and 21. In all human history neither legal nor religious authority has been successful in stopping late adolescents from using their genltalla, either naturally or unnaturally as the case may be. If the latter, he speaks as a landlord rather than a collegiate official with wisdom and insight into the conduct of young men and women...
...long been accepted as one of the cornerstones of the U.S. economy, but in Nebraska that cornerstone has been all but crushed. As a result of decisions by the state's Supreme Court, Nebraskans who bought anything on the installment plan during the past four years have a legal right to keep their purchases and quit making payments-no matter how much they still owe. According to some legal authorities, purchasers are even entitled to sue to recover payments already made...
Thunderous Backfire. This strange something-for-nothing situation arose out of a legal tangle over interest rates. Nebraska has an old law setting 9%* a year as the maximum permissible interest on a loan. But added risks and extra paperwork make installment loans unprofitable at 9%. Most states with interest-rate limitations also have special laws permitting higher percentages on installment purchases. Nebraska merchants and lenders lobbied for such a law, and in 1959 they got one. Without repealing the 9% overall limit, the legislature passed an installment-sale statute allowing true yearly interest rates as high...
...backfired thunderously. The state Supreme Court ruled that the law violated the state constitution, which forbids the legislature to set a "special" interest rate applicable only to specific kinds of transactions. Any seller who had charged more than 9% on an installment sale, said the court, forfeited the legal right to compel the purchaser to pay. The legislature hastily passed a substitute law, with altered rates and revised wording, but a few weeks ago the Supreme Court struck down that effort...
...dozen different bills designed to straighten up the mess. One remedy advocated by many Nebraska businessmen is to change the overall limit from 9% to 12%, which would make it possible to finance future installment sales profitably. But that would still leave past contracts in a state of legal chaos...