South Carolina Loan Agreement

South Carolina legal documents

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A loan agreement is a contract entered into between which controls a loan’s terms. Market special contracts may also be used to regulate securities lending, although loan agreements generally relate to loans of cash. Loan agreements are often in written form, but there’s no legal reason why a loan agreement cannot be a strictly oral contract (although in some states this may be limited by the Statute of frauds or equivalent legislation).

Loan agreements are often characterised either of two different ways: by the variety or by the form of facility. Categorising loan agreements by lender usually simply sub divides loans into:

bilateral loans
syndicated loans

Categorising loan agreements by type of facility, generally leads to two primary types:

Term loans, which are refunded in revolving loans, or set instalments over the period (or overdrafts) where up to your maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.

Within these two classes there are various subdivisions for example 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 floating or fixed.

South Carolina, officially separated from North Carolina was the scene of extensive military action during the Revolution and again during the Civil War. The Civil War started in 1861 as South Carolina troops fired on federal Fort Sumter in Charleston Harbor, and the state was the first to secede from the Union.

Once predominantly agricultural, South Carolina today has many large textile and other mills that produce several times the output of its farms in cash value. Charleston makes asbestos, wood, pulp, steel products, chemicals, machinery, and apparel.

Farms have become fewer but larger in the past couple of years. South Carolina ranks second in peach creation after California. Other top agricultural commodities contain broilers (31.5% of entire state farm receipts), turkeys, greenhouse products, cattle and calves, and corn. One of only two commercial tea plantations is 20 mi south of Charleston.

Points of interest include Fort Sumter National Monument, Fort Moultrie, Fort Johnson, and aircraft carrier USS Yorktown in Charleston Harbor; the Middleton, Magnolia, and Cypress Gardens in Charleston; Cowpens National Battlefield; the Hilton Head resorts; and the Riverbanks Zoo and Botanical Garden in Columbia.

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