Also known as: loan · loans · loaned · loaning · lend · lending
Written by attorneys · grounded in primary & secondary sources — see below
To transfer money or other property from one party to another for temporary use under an obligation of repayment or return, often with interest or security.
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Lars Lindstrom, a partner at a law firm, transfers $25,000 to the campaign committee of a sitting judge who controls appointments to lucrative government legal work. The firm is later selected for the engagement. The contribution is treated as a loan because it was extended to secure the appointment.
Lucy Liu applies to Liberty Trust for financing to buy a single-family residence. The bank approves the loan and disburses funds secured by a mortgage on the property. The transaction falls within the statute's prohibition on discriminatory lending practices.
Layla Lane brings a stolen laptop to a pawnbroker and receives cash in exchange for the device. The pawnbroker acquires possession of the laptop by lending money on its security. The pawnbroker is guilty of theft because he knew or believed the property had probably been stolen.
Landon Long, a partner in a general partnership, pays a partnership debt from personal funds. The payment creates a partnership obligation. The advance is treated as a loan to the partnership that begins accruing interest on the date it is made.
Lily Lopez obtains an initial mortgage loan from Lakewood Manufacturing secured by her commercial property. The mortgage contains a dragnet clause allowing additional advances. When Lakewood later lends her more money for renovations, the new funds are secured by the same mortgage with the same priority.
Lexicon Media, a corporation, lends $100,000 to a subsidiary to acquire additional shares in another entity. The board approves the transaction under the corporation's statutory powers. The loan is a valid exercise of the corporation's authority to lend money and deal in obligations of other entities.
A political contribution counts as a loan when a lawyer or firm extends money or other value to a candidate or campaign with the purpose of obtaining government legal work or a judicial appointment. The rule treats any such advance as a contribution that raises questions about merit-based selection.
The statute prohibits discrimination in the making or purchasing of loans or other financial assistance for purchasing, constructing, improving, or maintaining a dwelling when the loan is secured by residential real estate. The prohibition applies to any person or entity whose business includes such transactions.
…that Delaware law makes available to its corporations' officials. E. g. , Del. Code Ann., Tit. 8, § 143 (1975) (interestfree loans); § 145 (1975 ed. and Supp. 1976) (indemnification). While it is possible that countervailing issues of judicial efficiency and the like might clearly favor a different forum, they do not…
…v. TVA , 306 U. S. 118, 143-144; and Ashwander v. TVA , 297 U. S. 288, 330-331. See also Calder v. Bull , 3 Dall. 386, 388; Loan Assn. v. Topeka , 20 Wall. 655, 662-663. In United Public Workers v. Mitchell, supra , at 94-95, the Court stated: "We accept appellants' contention that the nature of political rights…
…and Commerce in excess of specified amounts may be disapproved by resolution of either House;) (President's proposal to provide
…at 216 ("Congress could have determined that racial prejudice is prevalent throughout the Nation, and that literacy tests unduly lend themselves to discriminatory application, either conscious or unconscious") (opinion of Harlan, J.); id. , at 235 ("[T]here is no question but that Congress could legitimately have…
…238 F. 2d 346, 350. The court found that the respondent financed the work contracted to the petitioner's employer with a loan
A person commits theft by lending on the security of movable property when the lender knows or believes the property has probably been stolen and lacks the purpose to restore it to the owner. The definition of receiving expressly includes acquiring possession or title by such a loan.
An advance by a partner that creates a partnership obligation is treated as a loan to the partnership. Interest begins to accrue on the date of the advance, distinguishing the transaction from a capital contribution.
A future advance is secured by the original mortgage and generally enjoys the same priority, subject to state statutes and the mortgage terms. Some jurisdictions limit priority to advances made before notice of intervening liens or require the advance to be within a stated maximum.