Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

character loan

Read a random definition: stated account

A quick definition of character loan:

A character loan is when someone lends you money because they trust you and believe you will pay it back. It's different from other loans because it's based on your good reputation and steady income, not just collateral like a house or car. Sometimes character loans are secured by property, but not always. It's important to always pay back loans on time, especially character loans, to maintain trust and good relationships with lenders.

A more thorough explanation:

Definition: A loan made based on the borrower's character and stable earnings. It can be secured by a mortgage or other property, but sometimes it is unsecured.

Example: John wants to start a small business but doesn't have enough collateral to secure a loan. However, he has a good reputation in the community and a stable job. The bank decides to give him a character loan based on his reputation and earnings.

Explanation: In this example, the bank is willing to give John a loan even though he doesn't have enough collateral to secure it. This is because they trust his character and believe he will be able to repay the loan based on his stable earnings. A character loan is often given to individuals who have a good reputation in the community and a stable source of income, but may not have enough collateral to secure a traditional loan.

characterization | character-reformation condition

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.