lender

(redirected from Lenders)
Also found in: Dictionary, Thesaurus, Financial, Encyclopedia.
Related to Lenders: Payday lenders
See: backer, creditor, obligee

LENDER, contracts. He from whom a thing is borrowed.
     2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; 9 Cowen, R. 687; 8 Johns. Rep. 432; 1 T. R. 480; 2 Campb. Rep. 464; and is deemed the owner or proprietor of the thing during the period of the loan; so that au action for a trespass or conversion will lie in favor of the lender against a stranger, who has obtained a wrongful possession, or has made a wrongful conversion of the thing loaned; as mere gratuitous permission to a third person to use a chattel does not, in contemplation of the common law, take it out of the possession of the owner. 11 Johns. Rep. 285; 7 Cowen, Rep. 753; 9 Cowen, Rep. 687; 2 Saund. Rep. 47 b; 8 Johns. Rep. 432; 13 Johns. Rep. 141, 661; Bac. Abr. Trespass, c 2; Id. Trover, C 2. And in this the Civil agrees with the common law. Dig. 13, 6, 6, 8; Pothier, Pret …, Usage, ch. 1, Sec. 1, art. 2, n. 4; art. 3, n. 9; Ayliffe's Pand. B. 4, t. 16, p. 517; Domat, B. 1, t. 5, Sec. 1, n. 4; and so does the Scotch law. Ersk. Pr. Laws of Scotl. B. 3, t. 1 Sec. 8.
     3.-2. In the civil law, the first obligation on the part of the lender, is to suffer the borrower to use and enjoy the thing loaned during the time of the loan, according to the original intention. Such is not the doctrine of the common law. 9 Cowen, Rep. 687. The lender is obliged by the civil law to reimburse the borrower the extraordinary expenses to which he has been put for the preservation of the thing lent. And in such a case, the borrower would have a lien on the thing, and may detain it, until these extraordinary expenses are paid, and the lender cannot, even by an abandonment of the thing to the borrower, excuse himself from repayment, nor is he excused by the subsequent loss of the thing by accident, nor by a restitution of it by the borrower, without insisting upon repayment. Pothier, Pret … Usage, ch. 3, n. 82, 83; Dig. 13, 6, 18, 4; Ersk. Pr. Laws of Scotl. B. 3, t. 1, Sec. 9. What would be decided at common law does not seem very clear. Story on Bailm. Sec. 274. Another case of implied obligation on the part of the lender by the civil law is, that he is bound to give notice to the borrower of the defects of the thing loaned; and if he does not and conceals them, and any injury occurs to the borrower thereby, the lender is responsible. Dig. 13, 6, 98, 3; Poth. Pret … Usage, n. 84; Domat, Liv. 1, t. 5, s. 3, n. 3. In the civil law there is also an implied obligation on the part of the lender where the thing has been lost by the borrower, and after he has paid the lender the value of it, the thing has been restored to the lender; in such case the lender must return to the borrower either the price or thing. Dig. 13, 6, 17, 5; Poth. Id. n. 85. "The common law seems to recognize the same principles, though," says Judge Story, Bailm. Sec. 276, "it would not perhaps be easy to cite a case on a gratuitous loan directly on the point." See Borrower; Commodate; Story, Bailm. ch. 4; Domat. Liv. 2, tit. 5; 1 Bouv. Inst. n. 1078, et seq.

References in periodicals archive ?
Lenders base this on an appraisal which is derived from the sales prices and absorption achieved by similar products that have been "recently" built and sold.
That's particularly true in that hedge funds and distressed-asset lenders are prime forces in this type of lending, and may not have the stomach or the expertise to stay the course if things go south (see sidebar, "How Second Liens Complicate a Workout," on page 43).
After collecting data from more than 13,000 ZIP codes across the country, the study's authors found that, in almost every state, military towns ranked among the highest in number of payday lenders per capita.
For requests received before January 1, 2004, lenders need not report requests for preapproval (as that term is defined in section 203.
With a vested interest in nursing home operations, A/R lenders work with operators after a loan is consummated to ensure that their investment criteria are consistently satisfied.
Enhancement of revenue opportunities, which is a strong incentive for lenders seeking new avenues to help achieve their financial goals.
In years past, lenders may have been more willing to leverage up a property because there was a more competitive environment among lenders.
LIS's consistent growth during its four years online is due to its user friendly Web site; its ability to match lenders to the precise requirements of each loan applicant; quick and efficient response to the needs of applicants and lenders; outstanding positioning within all major search engines; and reciprocal links and alliances with major financial journals.
For example, assume the lender makes a bank deposit with a conduit bank, which then advances the money to a U.
com provides a solution for both wary consumers and frustrated lenders by creating a "Trusted Marketplace," where lenders agree to a set of ethical business practices and borrowers are educated about what to expect during the loan process.
Trends that emanate from the lenders themselves also affect financing terms.
In negotiating leases, people sometimes just make mistakes and think that the smallest words in the lease don't have significant impact or meaning--but for lenders, virtually every word matters.