Person authorized to act on behalf of the lender within specified limits as an official representative of a lending institution.
Category: L
LOAN CERTIFICATE
LOAN ON LIFE INSURANCE POLICY
LOAN COMMITMENT
Lender’s binding promise that the loan amount or line-of-credit is available to the named borrower at a certain interest rate, time-bound, with a stated purpose. The commitment letter states all of the justification needed to advance the loan. Lenders charge a written commitment fee ranging generally from 0.5 percent to 2.5 percent of the loan amount.
LOAN ORIGINATION FEE
LOADING BAY
LLOYD
LOADMANAGE
LLOYD’S
LOAN
A bailment without reward ; consisting of the delivery of an article by the owner to another person, to be used by the latter gratuitously, and returned either in specie or in kind. A sum of money confided to another. Ramsey v. Whitbeck. 81 III. App. 210; Xylitols v. Pearson, 7 Pet. 109, S L. Ed. 023; Rodman v. Munson, 13 IÕ ah. (X. Y.) 75; Booth v. Terrell. 10 Ga. 25; Payne v. Gardiner, 29 N. Y. 107. A loan of money is a contract by which one delivers a sum of money to another, and the latter agrees to return at a future time a sum equivalent to that which he borrowed. Civ. Code Cal.