loan

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Related to Types Of Loans: Personal loans, Secured Loans

loan

a transaction whereby property is lent or given to another on condition of return or, where the loan is of money, repayment. During the period of the loan the borrower is entitled to use the thing loaned for the purpose agreed between the parties. In a loan of money, the money lent becomes the property of the borrower during the period of the loan against an undertaking to return a sum of equivalent amount either on demand or on a specified date or in accordance with an agreed schedule of repayments.
Collins Dictionary of Law © W.J. Stewart, 2006

LOAN, contracts. The act by which a person lets another have a thing to be used by him gratuitously, and which is to be returned, either in specie or in kind, agreeably to the terms of the contract. The thing which is thus transferred is also called a loan. 1 Bouv. Inst. n. 1077.
     2. A loan in general implies that a thing is lent without reward; but, in some cases, a loan may be for a reward; as, the loan of money. 7 Pet. R. 109.
     3. In order to make a contract usurious, there must be a loan; Cowp. 112, 770; 1 Ves. jr. 527; 2 Bl. R. 859; 3 Wils. 390 and the borrower must be bound to return the money at all events. 2 Scho. & Lef. 470. The purchase of a bond or note is not a loan ; 3 Scho. & Lef. 469; 9 Pet. R 103; but if such a purchase be merely colorable, it will be considered as a loan. 2 John. Cas. 60; Id. 66; 12 S. & R. 46; 15 John. R. 44.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Marketing these types of loans wasn't the credit union's approach to begin with, Halleck said, and with the low demand for them now they're sticking with that approach.
* Differences in the length or nature of the information gap for different types of loans (exhibit 1).
First Keystone said that demand for all types of loans remains soft, despite historically low interest rates.
It added that demand for most types of loans weakened at a smaller number of banks than in the second quarter.
But always eager to grow his business even more, Smith said that he is aiming to diversify the types of loans he is involved with.
Federal Perkins Loans, Guaranteed Student Loans, Federal Stafford Loans, Federal Supplemental Loans for Students, and National Direct Student Loans are among the many types of loans that apply.
Various types of loans, federal and state, are described, with information on loan limits and repayment requirements.
Standard & Poor's has approved Precept's underwriting process and will provide an independent assessment of underwritten cash flow for loans that are auctioned on the system; Morgan Stanley has agreed to act as a "market maker," effectively ensuring there will be bids on certain types of loans.
Although these types of loans are relatively homogeneous, small business loans tend to be quite heterogeneous, in part because of the natural diversity of small business enterprises and their loan terms, which are usually individually negotiated to suit the unique credit needs of each borrower.
Other recourse arrangements have been fashioned involving sales of mortgage and other types of loans.
SBAs 504 loan program is focused for specific types of loans, like the purchase of real estate and equipment.