Money Lender - Law Dictionary Search Results
qualifying ratios
qualifying ratios guidelines utilized by lenders to determine how much money a homebuyer is qualified to borrow. Lending guidelines typically include a maximum housing expense to income ratio and … qualifying ratios guidelines utilized by lenders to determine how much money a homebuyer is qualified to borrow. Lending guidelines typically include a maximum housing
additional principal payment
additional principal payment money paid to the lender in addition to the established payment amount used directly against the loan principal to
Borrowing powers
Locke, (1910) 2 KB 201. A company under the (English) Companies Act, 1929, has no power to borrow money unless the provision is contained in the Memorandum of Association, but it has an implied power to borrow … (1885) 10 AC 354. And see Re Harris Calculating Machine Co., (1914) 1 Ch 920, as to the lender's right of subrogation to creditors who have been paid with the proceeds of the void loan. See also
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Annuity
not an aliquot share in the income arising from any fund or property. Ordinarily an annuity is a money payment of a fixed sum annually made and is a charge personally on the grantor, CWT v. Arundhati … own life, instead of interest and the return of the loan. The borrower is the grantor, and the lender is the grantee, of such annuity. Government annuities may be purchased by persons wishing to exhaust all or
Mortgage
of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been … then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned
Expectant heir
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, the … than that upon an ordinary loan, and is frequently very much higher than the risk run by the lender requires. At Common Law all such loans are good, and the interest upon them, however high, recoverable. By
Mutuum
bound to restore, not the same thing, but other things of the same kind. Thus, if corn, wine, money, or any other thing which is not intended to be returned, but only an equivalent in kind, is … cujus est dominium applying to such cases. In a mutuum the property passes immediately from the mutuant or lender to the mutuary or borrower, and the identical thing lent cannot be recovered or redemanded, Jones on Bailm.
trust
a beneficiary forfeits his or her interest in the trust upon a creditor's attempt to reach it purchase money re·sult·ing trust : a resulting trust arising where not abolished by statute when property is purchased with title … that it invests in real estate either as an owner having equity in the property or as a lender holding mortgages on the property resulting trust : an implied trust based upon the presumed intentions of the
Debenture
of Inland Revenue, (1881) 7 QBD 165] of certain pro-perty with the repayment at a time fixed of money lent by person therein named at a given interest, but the term is a very elastic one. The … see (English) Companies Act, 1925, s. 75. The terminability and fixity in amount of deben-tures, being inconvenient to lenders, have led to their being superseded in many cases by debenture stock which is frequently irredeemable, and usually
loan
loan 1 a : money lent at interest b : something lent usually for the borrower's temporary use 2 : a transfer or … by any federal agency demand loan : a loan that is subject to repayment upon demand of the lender home equity loan : a loan or line of credit secured by the equity in one's home called
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