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are repaid in set instalments over the term, or revolving loans (or overdrafts) where up to a maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.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 François and Louis-Joseph Verendrye in the early 1740s, much of the region was acquired by the U.S. from France as part of the Louisiana Purchase in 1803. Before western Montana was obtained from Great Britain in the Oregon Treaty of 1846, American trading posts and forts had been established in the territory.
The major Indian Wars (1867–1877) included the famous 1876 Battle of the Little Big Horn, better known as “Custer’s Last Stand,” in which Cheyenne and Sioux defeated George A. Custer and more than 200 of his men in southeast Montana.
Much of Montana’s early history was concerned with mining, with copper, lead, zinc, silver, coal, and oil as principal products. Butte is the center of the area that once supplied half of the U.S. copper.
Fields of grain cover much of Montana’s plains. It ranks high among the states in wheat and barley, with rye, oats, flaxseed, sugar beets, and potatoes as other important crops. Sheep and cattle raising make significant contributions to the economy.
Tourist attractions include hunting, fishing, skiing, and dude ranching. Glacier National Park, on the Continental Divide, has 26 glaciers, 200 lakes, and many streams with good trout fishing. Other major points of interest include the Little Bighorn Battlefield National Monument, Virginia City, Yellowstone National Park, Fort Union Trading Post and Grant-Kohr’s Ranch National Historic Sites, and the Museum of the Plains Indians at Browning.