loan

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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.

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.

References in periodicals archive ?
To speak with Roy Banerjee about your commercial loan workout options, call him directly at 678-443-2225 or visit https://www.kppblaw.com.
Obtain life insurance when possible if you are taking out a commercial loan to secure the obligation for construction costs of rental space or a new building for your practice.
TRUTH: SBA loans require just two additional pages of paperwork from the applicant than conventional commercial loans do: (1) an IRS request for tax transcripts to verify tax information furnished with the loan application, and (2) a personal history form to verify legal residence and check for criminal background.
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For the most part, commercial loan servicers have been unwilling to commit the time and energy to develop the mechanism to benchmark their costs and productivity against industry metrics.
Commercial loans from political donors do not have to be declared to the Electoral Commission.
The proposed framework would increase consistency among the agencies in assessing the credit risk in an institution's commercial loan portfolio.
The implications for practice are that loan officers may not adequately consider the credibility of financial information when evaluating commercial loans. Training may be warranted to teach loan officers the differences among audits, reviews and information that are prepared by management.
Risk-free investment of capital combined with new regulatory mandates for conservative practice gives banks excellent incentive to continue this conservatism in the face of burgeoning commercial loan demand.
Morris started at First Financial in 2010 as a commercial loan analyst in Abilene.
Last month, Pakistan received another short-term commercial loan facility of $50 million from a consortium led by Credit Suisse AG, taking its total contribution in five months to $270 million, according to the finance ministry officials.
With Goldman Sachs agreeing to acquire the remaining EUR 266m of loans, Danske Bank has said it will sell an EUR 540m commercial loan portfolio.

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