Lender - Law Dictionary Search Results
Home Dictionary Name: lenderMoney lender
Money lender, a few disconnected and isolated transactions would not make a person engaged regularly in Money lending business, Ka Icildawallang v. U. Lokendra Sojour, AIR 1987 SC 2047. [Assam Money-lenders Act, (4 of 1934), s. 2(1)]--The (English) Money-lenders Act, 1900 (63 & 64 Vict. c. 51), by s. 6 defines the expression 'money-lender' therein as includingevery person whose business is that of money-lending, or who advertises or announces himself or holds himself out in any way as carrying on that business.but not including a pawnbroker (see that title), a Friendly, Building, or Loan Society (see those titles) or a corporation empowered by statute to lend money, orany person bona fide carrying on the business of banking or insurance or bona fide carrying on any business not having for its primary object the leading of money, in the course of which and for the purposes whereof he lends money; or any body corporate for the time being exempted from registration under this Act by order...
lender
lender A term referring to an person or company that makes loans for real estate purchases. Sometimes referred to as a loan officer or lender. Source: U.S. Department of Housing and Urban Development ...
lender option commitments
lender option commitments an agreement giving a lender the option to deliver loans or securities by a certain date at agreed upon terms. Source: U.S. Department of Housing and Urban Development ...
Loan, gratuitous
Loan, gratuitous, a class of bailment called commodatum in the Roman Law, and denominated by Sir William Jones a loan for use (pret a usage), to distinguish it from mutuum, a loan for consumption.The borrower has the right to use the thing during the time and for the purpose agreed upon by the parties. the loan is to be considered as strictly personal, unless from other circumstances a different intention may fairly be presumed. The borrower must take proper care of the thing borrowed, use it according to the lender's intention, and restore it at the proper time, and in a proper condition.The lender must suffer the borrower to use and enjoy the thing lent during the time of the loan, according to the original intention, without any molestation or impediment, under the peril of damages. He must reimburse the borrower the extraordinary expenses to which he has been put for the preservation of the thing lent. He is bound to give notice to the borrower of the defects of the thing lent; and...
trust receipt
trust receipt : a trust agreement between a lender and a borrower by which the lender gives up possession of goods without abandoning title and the borrower agrees to hold the goods in trust for the lender and if the goods are sold to turn the proceeds over to the lender in settlement of the debt NOTE: The Article Nine security interest replaces the trust receipt where the Uniform Commercial Code has been adopted. ...
Banker
Banker, one who receives money to be drawn out again as the owner has occasion for it, the customer being lender, and the banker borrower, with the superadded obligation of honouring the customer's cheques up to the amount of the money received and still in the banker's hands.A customer's money may become irrecoverable if six years have elapsed without payment by the banker of principal or interest after demand. The relation of banker and customer is merely that of debtor and creditor, with a superadded obligation on the banker to honour the customer's cheques, so that the Limitations Act, 1623, (21 Jac. 1, c. 16), runs against the customer. See UNCLAIMED PROPERTY.A cheque is not an assignment to the payee of the customer's balance, so that if a customer having a balance of 99l. give a cheque for 100l., the banker is legally justified in dishonouring it by refusing payment altogether, Schroeder v. Central Bank of London, (1876) 34 LT 735. If a customer overdraws his account, this amoun...
Interest
Interest, an interest for the purposes of the regula-tion was not limited to a direct financial interest and included membership of a panel such as the panel of which the claimant's solicitors were members that, therefore, the Claimant's Solicitors had had an interest in recommending the insurance which they recommend to her; that, in the circumstances, there had not been sufficient disclosure of that interest; and that, accordingly, there had been a material breach of regulation 4(2)(e)(ii) and the conditional fee agreement was unenforceable [See (English) Conditional Fee Agreements Regulation, 2000 (SI 2000/692), reg. 4(2)(c)(e)(ii)], Garrett v. Halton BC, (2007) 1 WLR 554 CA Cir.Interest, inter alia as the compensation fixed by agreement or allowed by law for the use or detention of money, or for the loss of money by one who is entitled to its use; especially, the amount owed to a lender in return for the use of the borrowed money [Black's Law Dictionary (7th Edn.) pp. 393-94 para 3...
loan or credit agreement
loan or credit agreement If your company's loan is fairly large, the lender may require a loan or credit agreement. A loan agreement contains terms and conditions for your loan in addition to those contained in the promissory note, security agreement, or mortgage. Common provisions in a loan agreement include provisions regarding the lender's commitment to lend, repayment and note terms, things that must happen before the lender is obligated to advance funds, representations and warranties, agreements by the borrower to take or not take certain actions, and events of default. ...
partial payment
partial payment a payment that is less than the total amount owed on a monthly mortgage payment. Normally, lenders do not accept partial payments. The lender may make exceptions during times of difficulty. Contact your lender prior to the due date if a partial payment is needed. Source: U.S. Department of Housing and Urban Development ...
assumable mortgage
assumable mortgage when a home is sold, the seller may be able to transfer the mortgage to the new buyer. This means the mortgage is assumable. Lenders generally require a credit review of the new borrower and may charge a fee for the assumption. Some mortgages contain a due-on-sale clause, which means that the mortgage may not be transferable to a new buyer. Instead, the lender may make you pay the entire balance that is due when you sell the home. An assumable mortgage can help you attract buyers if you sell your home. Source: U.S. Department of Housing and Urban Development ...
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