Regarding the halachic permissibility of selling promissory notes at a discount with the seller retaining liability.

Date: 12 Adar I 5586

From: Rabbi Moshe Sofer

To: Rabbi Yehudi

Description

The responsum addresses the halachic status of selling promissory notes at a discount where the seller retains full liability for the debt, concluding that this constitutes prohibited usury (ribbit ketzutzah) rather than a legitimate sale.

Source: Shu"t Chasam Sofer Collected §26

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