What is the term for the maximum amount of interest that may be charged on a loan?

The correct term for the maximum amount of interest that may be charged on a loan is "usurious." This term specifically refers to interest rates that exceed legal limits set by law, effectively indicating that charging such high rates constitutes usury. Usury laws are in place to protect consumers from excessively high interest rates that can lead to predatory lending practices.

In contrast, "usuary" is a misspelling of "usury" and does not represent a recognized legal term in the context of interest rates. The term "executable" relates to the enforceability of a legal document or judgment but does not apply to interest rates on loans. The "legal rate" refers to the permissible interest rate under the law, which can vary by jurisdiction, but it does not encompass the notion of exceeding that rate, which is specifically captured in the term usurious. Thus, understanding the concept of usury not only aids in recognizing the boundaries of acceptable borrowing costs but also provides insight into responsible lending practices in the funeral service industry and beyond.