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prosbul

(from Greek pros boule, "in front of the court"), a legal procedure introduced into Judaism by Hillel the Elder in the 1st century BC to permit private loans to persons in need without fear on the lender's part that the debt would be legally abrogated at the end of the sabbatical year (every seventh year). The court assumed the obligation of collecting the debt, thus technically removing the personal element specified in the law: "every creditor shall release what he has lent to his neighbor; he shall not exact it of his neighbor, his brother, because the Lord's release has been proclaimed" (Deuteronomy 15:2). Though the procedure was criticized as an evident circumvention of the Law, it was retained to benefit those in urgent need of financial help.

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Encyclopedia Britannica, 2008. Encyclopedia Britannica Online.
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