| Author | Collateral Loans |
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| Are giving loans against some artifacts legal? I mean if suppose I take some art from someone and give him loan equal to the selling price/market price of the art at that time. |
If you mean like a pawn shop then it is not legal, where you would be able to keep the art for a fraction of the price. Not sure if it counts with 100% value
3.21. Any banking and bookmaker activities are prohibited without exception.
Banking activities - granting loans with interest, receiving money from other players on deposit accounts, pawn shop business, insurance operations or any other bank activities. |
| are you basically saying that he is giving you a deposit, and if he doesn't return the loan..you keep the artifact ? |
| Well, you could avoid this rule buy having the person asking for a loan sell an artifact to you and then when he has enough gold, you can sell the artifact back to him. |
are you basically saying that he is giving you a deposit, and if he doesn't return the loan..you keep the artifact ?
something similar... |
something similar...
To me it sounds like a pawn shop, especially if the art is more worth than the loan. As I wrote that is forbidden by rule 3.21.
I would suggest
Well, you could avoid this rule buy having the person asking for a loan sell an artifact to you and then when he has enough gold, you can sell the artifact back to him. |
I would suggest
Well, you could avoid this rule buy having the person asking for a loan sell an artifact to you and then when he has enough gold, you can sell the artifact back to him. ... at a price near the market prices for that artifact ;) |
I would suggest
Well, you could avoid this rule buy having the person asking for a loan sell an artifact to you and then when he has enough gold, you can sell the artifact back to him. ... at a price near the market prices for that artifact ;) , because later you cannot be forced to sell the art back to him. so if the other guy wants a loan and you want guarantee of payment, choose an art with a cost as near to the loan amount as possible. |
| closed by SirM0rphius (2012-08-05 02:45:17) |
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