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Simple English definitions for legal terms

call loan

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A quick definition of call loan:

A call loan is a type of loan where the lender can ask for the money back at any time, usually with a day's notice. This is different from a term loan, which has a set due date. The borrower usually pays interest on the loan. It's important to pay back a call loan quickly because the lender can ask for the money back at any time.

A more thorough explanation:

Definition: A loan for which the lender can demand payment at any time, usually with 24 hours' notice, because there is no fixed maturity date.

Example: A broker call loan is a type of call loan that is made to a stockbroker to finance daily transactions. The lender can demand payment at any time, and the borrower must repay the loan within 24 hours.

Explanation: A call loan is a type of loan that is not fixed and can be called back by the lender at any time. This type of loan is usually used for short-term financing, and the borrower must be prepared to repay the loan quickly. The example of a broker call loan illustrates how this type of loan is used in the stock market to finance daily transactions. The lender can demand payment at any time, and the borrower must be prepared to repay the loan within 24 hours.

calling to the bar | call of a meeting

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

HopefullyInLawSchool

16:12

@RoaldDahl: Likely not however it could mean nothing

RoaldDahl

16:15

So if it means nothing does that mean something?

HopefullyInLawSchool

16:17

Possibly

RoaldDahl

16:26

Cool

RoaldDahl

16:26

thank you!!!! i hope it means something

pinkandblue

16:31

fart

IrishDinosaur

16:36

Mich R gang lesgooo

AromaticDazzlingLlama

17:19

Did anyone else get that random get to know nova email?

HopefullyInLawSchool

17:21

Ya it was sent to all YM applicants

starfishies

17:37

Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet

PoloBoy

17:38

Better yet I got the email and I was rejected last month

starfishies

17:38

Wtf

starfishies

17:39

and the deadline is in like a week what is this

DashingThroughRaindrops

18:01

any cardozo movement?

BatmanBeyond

18:01

Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response

BatmanBeyond

18:02

This whole hold/wait-list/reserve system is a headache

DashingThroughRaindrops

18:02

loci already?

BatmanBeyond

18:09

If the odds are like 1-2% I don't think it matters much by the numbers

ChuChuB

12:11

I got the same NDLS email

OrangeThing

12:18

I think the user profiles are broken

HippoDad

19:29

Any word out of Notre Dame?

HippoDad

19:29

Only the invitation to apply for LSE

HippoDad

19:29

Anyone received a decision from NDLS?

bigfatsloth

19:50

when did u guys apply that just heard from umich? they havent even glanced at my app yet

folkmore

0:30

how am i supposed to spy on people when profile links are broken?

BroadMotionlessStingray

5:02

Right. Broken links smh

mastermonkey45

11:40

I've been UR since first/second week of Jan, no updates otherwise, is that a bad sign? At or above median LSAT and above 75th gpa.

EmptyFlakyGoose

12:08

The profile links are not working for me. anybody else?

bigfatsloth

13:18

i’m in the same boat mastermonkey but with lower stats. i hope i hear back by mid march

CheeseIsMyLoveLanguage

13:24

@mastermonkey45: Looking at some of the recent decisions in relation to when they went complete, I'd say it's a good sign. It seems many declines were sent within about 5-6 weeks of completion. Given those were applications that were SENT in January, I'd say that means you're still solidly in the running. :)

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