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Case: One of my best students asked about the situation in which, in his youth, he would lend money with interest by using a heter iska (a rabbinical device that structures an ostensible loan into a permitted investment), according to the ruling he received from a rav. After studying the issues involved in Shas and poskim, he has decided to return the interest to the borrowers. In our country, the bank notes have been devalued, and the government has required people to pay a larger sum of money than their original loans’ face value to the point that they return the same value of the original loan (Ed. note – we would call this linked to the inflation rate). However, my student does not have enough money to return the ribbit (interest) according to the increased amount.
Ruling: According to Torah law, one pays a loan according to the original face value and does not adjust it for inflation. This is the case even when the currency is locally disqualified, as long as he can take the money to a place where he can use it (Bava Kama 97b, Shulchan Aruch, Choshen Mishpat 74). The matter is all the more clear when the currency is still valid, just that it is not as valuable as it once was.
P'ninat Mishpat (831)
Various Rabbis
335 - Adding on to Old Present or Setting New One?
336 - Returning Ribbit With Devalued Currency
337 - Late Demand of Expenses
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However, this is not a simple manner. If the Torah requires payment and dina d’malchuta determines what currency is valid, from a Torah perspective as well, then my student would not be paying properly. The fact that the Torah recognizes dina d’malchuta regarding currencies even in regard to Torah law appears clear from the fact that the gemara (ibid.) assumes that if a currency cannot be used for payment because of disqualification, it also cannot be used to redeemma’aser sheni.
Nevertheless, my student is required to pay only the face value he received as ribbit. Dina d’malchuta is valid in regard to matters that are related to the operation of the kingdom, such as the use of its currency. Had the kingdom not made a decree in regard to payment of a devalued currency, the Torah law would have not required it, but once they did make a decree, we see it as a matter of their discretion, and halacha also requires additional payment. However, regarding the ability of one to repent and return ribbit he took, we have reason to be lenient to enable repentance. Since this type of payment is unusual, we assume that the kingdom did not mean to institute their rule in regard to a type of obligation that they do not recognize legally. Therefore, my student should pay only according to the face value without adjustment for inflation.
Various Rabbis
Various Rabbis including those of of Yeshivat Bet El, such as Rabbi Chaim Katz, Rabbi Binyamin Bamberger and Rabbi Yitzchak Greenblat and others.
Moreshet Shaul Moreshet Shaul: A Crown and its Scepter – part II
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 294-5
P'ninat Mishpat P'ninat Mishpat: A Contractor’s Leaving the Job in the Middle – part III
based on ruling 84013 of the Eretz Hemdah-Gazit Rabbinical Courts
P'ninat Mishpat P'ninat Mishpat: Did Any Furniture Go to the Buyer? – part I
based on ruling 84093 of the Eretz Hemdah-Gazit Rabbinical Courts
P'ninat Mishpat P'ninat Mishpat: Multiple Agreements and Parties – part III
based on appeal of ruling 80082 of the Eretz Hemdah-Gazit Rabbinical Courts
Chemdat Yamim Moreshet Shaul: Twin Foundations
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 690
P'ninat Mishpat P'ninat Mishpat: Complaints about Contractor’s Work – part II
(based on ruling 83037.1 of the Eretz Hemdah-Gazit Rabbinical Courts)
Rabbis in Midrash
Lessons
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P'ninat Mishpat P'ninat Mishpat: Realtor’s Fee on Large Commercial Building – part I
(based on ruling 85031 of the Eretz Hemdah-Gazit Rabbinical Courts)
(based on ruling 85031 of the Eretz Hemdah-Gazit Rabbinical Courts)
Chemdat Yamim Moreshet Shaul: The Goal of an Agricultural Yeshiva – part I
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 263 (address at the laying of the cornerstone of the Yeshiva Chakla’it in Kfar Haroeh)
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 263 (address at the laying of the cornerstone of the Yeshiva Chakla’it in Kfar Haroeh)
Re'e NEVER EXTREME EXCEPT ISRAEL
Parshat Re'eh
Judaism is against extremism, so how can we understand the seemingly extreme statements found in our sages in favor of living in the Land of Israel and against living in Chutz laAretz? The article deals with the seeming contradiction between the strength of Free-Will and the strength of being influenced by our surroundings.
Ekev DANCE FOR ISRAEL- FOR YOUR BENEFIT
Parshat Eikev
Description: The 7 Haftarot we read after Tisha B'Av ("Shiva D'Nichemta") surely get us excited that they're coming TRUE, and awaken us to yearn, dance & join the return to Zion! The short article also deals with the problems and solutions facing the American Jewish community as discussed at a recent panel, as well as the question why Jews come from America to Israel to help when we face problems, but Israelis don't come to aid Jews in America when they face anti-Semitism.
P'ninat Mishpat P'ninat Mishpat: Complaints about Contractor’s Work – part II
(based on ruling 83037.1 of the Eretz Hemdah-Gazit Rabbinical Courts)
(based on ruling 83037.1 of the Eretz Hemdah-Gazit Rabbinical Courts)
Chemdat Yamim Moreshet Shaul: Twin Foundations
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 690
Based on Siach Shaul, Pirkei Machshava V’Hadracha p. 690
D'varim Judaism’s Social Vision
Re’eh
Giving is more than an act of generosity—it is an essential part of human dignity that belongs to everyone, rich and poor alike. The ultimate goal of help is to empower others to stand on their own.
Kuzari -Rabbi Ari Shvat Kuzari class 9 - "Seeing is Believing" (parag. 21-30)
These paragraphs elaborate on the theme that seeing and knowing is better than any attempt to prove logically, and begins explaining the difference between Israel and gentiles.
