Massachusetts Service Agreement PDF
Massachusetts at a glance: Usury Cap: 20% per year (M.G.L. Ch. 271 § 49) · Governing Law: Massachusetts General Laws
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Service Agreements in Massachusetts
Massachusetts service agreements are interpreted under common law contract rules and Chapter 106 of the General Laws (UCC).
Late interest fees must not exceed the state usury threshold of 20% per year (M.G.L. Ch. 271 § 49).
Massachusetts Service Agreement — Quick Reference
| Requirement | Massachusetts Rule |
|---|---|
| Usury Cap | 20% per year (M.G.L. Ch. 271 § 49) |
| Governing Law | Massachusetts General Laws |
Massachusetts Legal Requirements
- Interest rates above 20% are considered criminal usury and are void.
Massachusetts Governing Laws
Read the full text of these laws at Cornell Law School's Massachusetts legal resources or your state legislature's official website.