lending note definition
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loan note loan note. A type of contract whereby the lender and the borrower's obligations are stated in the actual terms of that loan. Should these not be followed, the parties have a right to sue the other.
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mortgage Mortgage. A legal document by which the owner (i.e., the buyer) transfers to the lender an interest in real estate to secure the repayment of a debt, evidenced by a mortgage note.
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mortgage note Note that offers a mortgage as proof of a debt and describes the terms under which the mortgage is to be repaid. “ The mortgage note was signed by the individual which indicated their full understanding and agreement to the terms that are non-negotiable.
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Mortgage-backed security The basics are: 1  Mortgage loans (mortgage notes) are purchased from banks and other lenders, and possibly assigned to a special purpose vehicle (SPV). 2  The purchaser or assignee assembles these loans into collections, or pools. 3  The purchaser or assignee securitizes the pools by issuing mortgage-backed securities.
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Negotiable instrument Part IV. ... Promissory note defined. (1)A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer.
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Introduction to Capital Budgeting A promissory note, sometimes referred to as a note payable, is a legal instrument, in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms. If the promissory note is unconditional and readily saleable, it is called a negotiable instrument. The term note payable is commonly used in accounting or commonly as just a note, it is internationally defined by the Convention prov
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- A big part of why the Warriors won Game 1 was their willingness to let James shoulder the Cavaliers' scoring load instead of contributing to a more balanced offense. That strategy was put to work again in Game 2 and the four-time MVP delivered another superb performance to keep his team's offense above water.
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- Definition of note: A short-term debt security, usually with a maturity of five years or less. Definition of note: A short-term debt security, usually with a maturity of five years or less. Home
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What is a Promissory Note? Promissory notes usually refer to the borrower as the maker of the note. The borrower generally is said to have made the written agreement because he or she is initiating the transaction. The lender is referred to as the payee because it is the party that first pays the money to the borrower and then receives the payments at a future date.
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- A Loan Agreement, also known as a promissory note, loan contract, or term loan, can be used for loans between individuals or companies. A borrower's written promise to repay a sum of money, or principal, to the lender.
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- Collateral. As part of your Promissory Note, there may be an option to include collateral or security. Collateral is protection for the lender against a borrower's default. If the borrower defaults, the lender can become the owner of the collateral or sell it to pay the outstanding amount.
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- Popular Terms. Promissory note that (as a part of a mortgage agreement) states the amount and duration of loan, the applicable rate of interest, and makes the signatory personally liable for repayment of the full loan amount according to the terms of agreement.
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What is 'Securities Lending' Securities lending is the act of loaning a stock, derivative or other security to an investor or firm. Securities lending requires the borrower to put up col... Securities lending is the act of loaning a stock, derivative or other security to an investor or firm. Securities lending requires the borrower to put up collateral, whether cash, security or a letter of credit. When a security is loaned, the title and the ownership are also transferred to the borrower. Stock loan and securities lending the balance.
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Loan payable Loan Payable. Definition: A loan is an arrangement under which the owner of property (usually cash) allows another party the use of the property in exchange for an interest payment and the return of the property at the end of the lending arrangement. The loan is documented in a promissory note. If any portion of the loan is still payable as of the date of a company's balance sheet, the remaining balance on the loan is called a loan payable. If the principal on a loan is payable within the next year, it is classified on the balance sheet as a current liability.
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promissory note See more synonyms on Thesaurus.com. noun. 1. a written promise to pay a specified sum of money to a designated person or to his or her order, or to the bearer of the note, at a fixed time or on demand. 2. a written promise to do or provide something, usually presented as a gift and claimable when or however the recipient chooses.
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User Contributed Dictionary A banknote (often known as a bill or simply a note) is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. Along with coins, banknotes make up the cash or bearer forms of all modern money.
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Definitions &Translations loan(Noun) A sum of money or other valuables or consideration that an individual, group or other legal entity borrows from another individual, group or legal entity (the latter often being a financial institution) with the condition that it be returned or repaid at a later date (sometimes with interest).
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- RELATED TERMS. 1  Unsecured Loan A loan that is issued and supported only by the borrower's creditworthiness, ... 2  Unsecured Debt A loan not backed by an underlying asset. 3  Collateral Property or other assets that a borrower offers a lender to secure 4  ... Secured Note A type of loan that is backed by the borrower's assets.
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- A promissory note is basically an IOU that contains the promise to repay the loan, as well as the terms for repayment. 1  term (number of years).  Unlike a mortgage or deed of trust, the promissory note is not recorded in the county land records. The lender holds the promissory note while the loan is outstanding. When the loan is fully paid off, the note will be marked as paid in full and returned to the borrower.
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Negotiable instrument A promissory note is defined as an instrument in  writing (not being a bank note or a currency note), containing an  unconditional undertaking signed by the maker, to pay a … certain sum  of money only to or to the order of a certain person, or to the  bearer of the instrument.
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PROMISSORY NOTE PROMISSORY NOTE. A written document in which a borrower agrees (promises) to pay back money to a lender according to specified terms. A written promise to pay a certain sum of money, at a future time, unconditionally.
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- For this reason, where there. is both a loan agreement and a promissory note, the borrower should ensure the prom-. issory note refers to the loan agreement so that, in an enforcement action, the note can-. not be deemed to stand alone without reference to the other loan agreement terms.
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Definitions &Translations Freebase(0.00 / 0 votes)Rate this definition: Loan. In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset for a period of time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time.
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- Definition of BANK NOTE: 1. paper money issued by the central bank. AKA currency note. 2. interest on a note that is over $100,000. It can be used as cash but are not protected by The Law Dictionary Featuring Black's Law Dictionary Free Online Legal Dictionary 2nd Ed.
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- A paper or electronic obligation that enables the issuing party to raise funds by promising to repay a lender in accordance with terms of a contract. Types of debt instruments include notes, bonds, certificates, mortgages, leases or other agreements between a lender and a borrower.