A legal document between a lender and a borrower whereby the later agrees to certain conditions for the repayment of the sum of money borrowed; is called:

Related MCQs

• The legal instrument that pledges a house or other real estate as security for repayment of a loan is called:
• The charge made for the use of borrowed money levied as a percentage of the amount of debt is refered to as:
• The banker’s bank and lender of last resort is the
• A sum of money or other property owed by one person or organization to another is called
• The borrowing of a sum of money by one person, company, government or other organization from another is called:
• The proportion of a sum of money that is paid over a specified time period in payment for its loan is called:
• Legal Tender Money is -
• "Legal Tender Money" refers to :
• The accumulation of idle money balances or inactive money is called:
• A non-negotiable order of a bank to a foreign bank authorizing payment to a person designated of a particular sum of money is known as: