A contract between the owner (leassor) and the tenant (leassee) stating the conditions under which the tenant may
occupy or use the property.
LEGAL RATE OF
The maximum rate of interest fixed by the laws of the various states which a lender may charge a borrower for the
use of money.
Any institution, including a commercial bank, savings and loan association, commercial finance company, or other
lender qualified to participate with SBA in the making of loans.
The purchase of a business with financing provided largely by borrowed money, often in the form of junk
A charge upon or security interest in real or personal property maintained to ensure the satisfaction of a debt or
duty ordinarily arising by operation of law.
The disposal, at maximum prices, of the collateral securing a loan and the voluntary and enforced collection of the
remaining loan balance from the obligators and/or guarantors.
The net value realizable in the sale (ordinarily a forced sale) of a business or a particular
Refers to a loan in "liquidation status" which has been referred to attorneys for legal action.
Also: The practice of taking legal action through the judicial process.
Agreement to be executed by borrower, containing pertinent terms, conditions, covenants, and