L

contracts. He from whom a thing is borrowed. 2. The contract of loan confers rights, and imposes duties on the lender. 1. The lender has the right to revoke the loan at his mere pleasure; and is deemed the owner or proprietor of the thing during the period of the loan; so that au action for a trespass or conversion will lie in favor of the lender against a stranger, who has … [Read more...] about LENDER

Lawful birth; the condition of being born in wedlock; the opposite of illegitimacy or bastardy. Law Dictionary - Alternative Legal Definition The state of being born in wedlock; that is, in a lawful manner. 2. Marriage is considered by all civilized nations as the only source of legitimacy; the qualities of husband and wife must be possessed by the parents in order to make the … [Read more...] about LEGITIMACY

Liability of lenders (such as banks providing mortgages) for failure of the borrower to replay as a result of actions by the lenders. … [Read more...] about LENDER LIABILITY

Law Dictionary - Alternative Legal Definition(adjective) - That which is lawful, legal, recognized by law, or according to law; as legitimate children, legitimate authority, or lawful power.(verb) - To make lawful; to confer legitimacy; to place a child born before marriage on the footing of those born in lawful wedlock. … [Read more...] about LEGITIMATE

A bank or commercial entity that makes loans. … [Read more...] about LENDING INSTITUTION