Q&A: What type of contract is a personal loan where installment payments are made monthly?
Question by skye_12299: What type of contract is a personal loan where installment payments are made monthly?
I live in the state of Ohio and I am trying to figure out if the personal loan I signed for through a financial institution is considered written contract, written account, or promissory. I made monthly installment payments.
Best answer:
Answer by wilderwriter
It is often called a “promissory note” but it is also a “written contract” (as apposed to a oral contract). I have never heard of a “written account” other than in the sense of a story “written down” not as a kind of financial instrument.
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Categories: Loan Questions Tags: Contract, Installment, loan, Made, Monthly, payments, Personal, type
Bank Credit: A Study of the Principles and Factors Underlying Advances Made by Banks to Borrowers (1920)
Bank Credit: A Study of the Principles and Factors Underlying Advances Made by Banks to Borrowers (1920)
Originally published in 1920. This volume from the Cornell University Library’s print collections was scanned on an APT BookScan and converted to JPG 2000 format by Kirtas Technologies. All titles scanned cover to cover and pages may include marks notations and other marginalia present in the original volume.
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Categories: Loan Products Tags: 1920, advances, bank, Banks, Borrowers, Credit, Factors, Made, Principles, study, Underlying