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  2. Loan agreement - Wikipedia

    en.wikipedia.org/wiki/Loan_agreement

    Loan agreements are documented via their commitment letters, agreements that reflect the understandings reached between the involved parties, a promissory note, and a collateral agreement (such as a mortgage or a personal guarantee). Standardized templates for loan agreements can assist in ensuring all critical terms and clauses are included. [4]

  3. Consumer Credit Act 1974 - Wikipedia

    en.wikipedia.org/wiki/Consumer_Credit_Act_1974

    A regulated consumer credit agreement is defined as an agreement between two parties, one of whom (the debtor) is an individual, and the other of whom (the creditor) is "any other person", in which the creditor provides the debtor with credit not exceeding £5,000 (this figure was subsequently increased to £25,000 and under the Consumer Credit ...

  4. Personal contract purchase - Wikipedia

    en.wikipedia.org/wiki/Personal_contract_purchase

    Unlike a traditional hire purchase, where the customer repays the total debt in equal monthly instalments over the term of the agreement, a PCP is structured so that the customer pays a lower monthly amount over the contract period (usually somewhere between 24 and 48 months), leaving a final balloon payment to be made at the end of the ...

  5. Contractual term - Wikipedia

    en.wikipedia.org/wiki/Contractual_term

    It must also be shown the term lacks 'good faith'; the claim failed in Director General of Fair Trading v First National Bank plc, [38] as striking down a relatively high interest rate (falling short of extortionary rates) would mean borrower could have safely ignored the interest rates in its loan agreements (see UK requirements for consumer ...

  6. Standard form contract - Wikipedia

    en.wikipedia.org/wiki/Standard_form_contract

    A standard form contract (sometimes referred to as a contract of adhesion, a leonine contract, [a] a take-it-or-leave-it contract, or a boilerplate contract) is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favorable terms and is thus placed in a "take it or leave it ...

  7. Loan covenant - Wikipedia

    en.wikipedia.org/wiki/Loan_covenant

    The legal provision in the loan agreement providing for the loan to be "called" is the "acceleration clause": once the buyer defaults, all future payments due under the loan are "accelerated" and deemed to be due and payable immediately. [1] Covenants may also be waived, either temporarily or permanently, usually at the sole discretion of the ...

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  9. Commodate - Wikipedia

    en.wikipedia.org/wiki/Commodate

    A commodate (Latin: commodatum), also known as loan for use, [1] in civil law and Scots Law is a gratuitous loan; a loan, or free concession of anything moveable or immoveable, for a certain timeframe, on condition of restoring again the same individual after a certain time.

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