Is XYZ Corporation's loan offer of $10,000,000 at 18% still valid if the legal interest rate is lowered to 15%?

The answer that states the loan offer is not valid due to the interest exceeding the legal rate is correct because of the principles governing usury laws. Usury laws are designed to protect borrowers from excessively high-interest rates. If a jurisdiction enforces a maximum legal interest rate of 15%, any agreement to pay an interest rate above that—such as the 18% offered by XYZ Corporation—would be deemed uncollectible and void.

In this case, since the loan offer exceeds the legal interest rate, it would not be enforceable in court. Even if the offer was made prior to the law change or if it were accepted quickly, these factors cannot override the stipulations laid out by usury laws. Furthermore, while a corporation downgrading the interest rate could potentially make the loan valid, simply acknowledging a higher rate that exceeds the legal parameters means the initial offer is invalid irrespective of acceptance conditions or negotiation. Thus, the legal framework around interest rates directly affects the enforceability of the loan agreement.