A loan agreement is a contract entered into between which regulates the terms of a loan. Loan agreements usually relate to loans of cash, but market specific contracts are also used to regulate securities lending. Loan agreements are usually in written form, but there is no legal reason why a loan agreement cannot be a purely oral contract (although in some countries this may be limited by the Statute of frauds or equivalent legislation).
Loan agreements are usually characterised either of two different ways: by the type of lender, or by the type of facility. Categorising loan agreements by lender usually simply sub-divides loans into:
Categorising loan agreements by type of facility, usually results in two primary categories:
Term loans, which are repaid in set instalments over the term, or revolving loans (or overdrafts) where up to a maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.
Within these two categories though, there are various subdivisions such as interest-only loans, and balloon payment loans. It is also possible to subcategorise on whether the loan is a secured loan or an unsecured loan, and whether the rate of interest is fixed or floating.
First explored for France by Robert Cavelier, Sieur de la Salle, in 1679–1680, the region figured importantly in the Franco-British struggle for North America that culminated with British victory in 1763. George Rogers Clark led American forces against the British in the area during the Revolutionary War and, prior to becoming a state, Indiana was the scene of frequent Indian uprisings until the victories of Gen. Anthony Wayne at Fallen Timbers in 1794 and Gen. William Henry Harrison at Tippecanoe in 1811.
During the 19th century, Indiana was the site of several experimental communities, including those established by George Rapp and Robert Owen at New Harmony.
Indiana’s 41-mile Lake Michigan waterfront—one of the world’s great industrial centers—turns out iron, steel, and oil products. Products include automobile parts and accessories, mobile homes and recreational vehicles, truck and bus bodies, aircraft engines, farm machinery, and fabricated structural steel. Wood office furniture and pharmaceuticals are also manufactured.
The state is a leader in agriculture with corn the principal crop. Hogs, soybeans, wheat, oats, rye, tomatoes, onions, and poultry also contribute heavily to Indiana’s agricultural output.
Much of the building limestone used in the U.S. is quarried in Indiana, which is also a large producer of coal. Other mineral commodities include crushed stone, cement, and sand and gravel.
Wyandotte Cave, one of the largest in the U.S., is located in Crawford County in southern Indiana, and West Baden and French Lick are well known for their mineral springs. Other attractions include Indiana Dunes National Lakeshore, Indianapolis Motor Speedway, Lincoln Boyhood National Memorial, and the George Rogers Clark National Historical Park.