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A loan agreement (also known as a lending agreement [1]) is a contract between a borrower and a lender which regulates the mutual promises made by each party.
A personal loan agreement is a legally binding document that outlines the terms and conditions of a loan between two parties: the lender and the borrower. Whether you're lending money to a friend,...
Susu (informal loan club) A susu or sou-sou or osusu or asue (also known as a merry-go-round, [1] Partner, or Pawdna in Jamaica; [2] sol in Haiti; [3], san in Dominican Republic, [4] and Njangi in Cameroon [5]) is a form of rotating savings and credit association, a type of informal savings club arrangement between a small group of people who ...
A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or ...
Due-on-sale clause. A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to call the note due in such a circumstance.
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