Borrow - Law Dictionary Search Results

repayment plan

repayment plan an agreement between a lender and a delinquent borrower where the borrower agrees to make additional payments to pay down past due amounts while making regularly scheduled

pre-approval

pre-approval a lender commits to lend to a potential borrower a fixed loan amount based on a completed loan application, credit reports, debt, savings and has been reviewed

expression having a fixed connotation or meaning but it is susceptible of varied meanings, including or excluding short-term borrowings or long-term borrowings, whether of all categories or of any particular category or categories depending on its environmental

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Bond

There are two kinds of post obit bonds: (1) Where the sum secured is greater than the sum borrowed, but to be payable only upon a contingency, such as the obligor-expectant surviving his ancestor. (2) Where the

Vivum vadium, Vifgage or Living pledge

Vivum vadium, Vifgage or Living pledge, when a person borrows money of another, and grants to him an estate to hold till the rents and profits shall repay

Obligor

discharge any obligation in respect of a financial asset, whether existing, future, con-ditional or contingent and includes the borrower. [Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), s. 2(1)(q)]

Expectant heir

property will accrue on the death of another person. expectant heirs wishing to anticipate this property have frequently borrowed money, to be repaid when the expected property shall devolve upon them. From the uncertainty of this period,

mortgage score

mortgage score a score based on a combination of information about the borrower that is obtained from the loan application, the credit report, and property value information. The score is a

Deputation

the parent department or lending authority) to another department or cadre or organisation (Commonly referred to as the borrowing authority). The necessity for sending on deputation arises in public interest to meet the exigencies of public service.

Default

643. It means non-payment of any principal debt or interest thereon or any other amount payable by a borrower to any secured creditor consequent upon which the account of such borrower is classified as non-performing asset in

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