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are repaid in set instalments over the term, or revolving loans (or overdrafts) where up to a maximum amount can be withdrawn at any time, and interest is paid from month to month on the drawn amount.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.
The history of America is closely tied to that of Virginia, particularly during the Colonial period. Jamestown, founded in 1607, was the first permanent English settlement in North America and slavery was introduced there in 1619. The surrenders ending both the American Revolution (Yorktown) and the Civil War (Appomattox) occurred in Virginia. The state is called the “Mother of Presidents” because eight U.S. presidents were born there.
The most valuable services industry is community, business and personal services, which produces income through private health care, hotels and motels, computer programming and engineering companies and repair shops.
The greatest growth is the technology sector, with business for computer programmers, consultants, engineers and researchers generated by the federal government. Virginia is home to the world’s largest internet service provider.
Tobacco, once the basis of the Virginia economy, has been replaced by livestock and livestock products as the state’s most valuable source of agricultural income. Broilers are the state’s most valuable product followed by beef cattle. Virginia is a leading producer of turkeys. Vegetable crops include potatoes, sweet potatoes and tomatoes. With large orchards, apples are the state’s leading fruit crop.Virginia is a leading crab and oyster producing state. Coal is the state’s leading mined product.
Points of interest include Mt. Vernon, home of George Washington; Monticello, home of Thomas Jefferson; Stratford, home of the Lees; Richmond, capital of the Confederacy and of Virginia; and Williamsburg, the restored Colonial capital.
The Chesapeake Bay Bridge-Tunnel spans the mouth of Chesapeake Bay, connecting Cape Charles with Norfolk. Consisting of a series of low trestles, two bridges and two mile-long tunnels, the complex is 18 miles (29 km) long. It was opened in 1964.
Other attractions are the Shenandoah National Park, Colonial National Historical Park, Fredericksburg and Spotsylvania National Military Park, the Booker T. Washington birthplace near Roanoke, Arlington House (the Robert E. Lee Memorial), Luray Caverns, the Skyline Drive, and the Blue Ridge National Parkway.