This is a combined loan and purchase where a lender gives a borrower a large amount of money for the specific purchase of a very expensive property (most of the time a home). As part of the transaction, the borrower usually agrees to give the object (or any other quality object) to the lender if the loan is not repaid on time. This money-back guarantee is called a guarantee. A financial transaction is an agreement or communication between a buyer and seller to exchange an asset for payment. You have already taken out your wallet and you are already making a financial transaction, it is an easy way to grab small amounts of money from many people. But not everyone likes it. A bank is an activity almost exclusively based on financial transactions. Banks act not only as lenders of loans and mortgages, but also as borrowers in a particular type of loan called an account. The lender is designated as a customer and gives the bank unspecified sums of money for indefinite periods. The bank undertakes to repay any amount to the account at any time and pays small interest on the amount of money that the customer leaves in the account for a certain period of time. In addition, the bank guarantees that the money will not be stolen while it is in the account and will refund the customer if this is the case. In return, the Bank may use the money for other financial transactions as long as it holds it.
In practice, most contracts are incomplete contracts that do not fully define the exact terms of the contract. In such situations, either party may be tempted to use the permanence or ambiguity of the contract at the expense of the other party. See ASYMMETRIC INFORMATION, MORAL HAZARD. It is more and more common for business because there is great simplicity, you have already taken out your wallet and you are already making a financial transaction. As a general rule, oral contracts are enforceable unless they relate to real estate or are unable to provide within one year, secure the debt of another or be supported by a letter signed by the requested person („This must confirm our consent… „) There are other exceptions, but they are not relevant here. Oral contracts are often difficult to enforce, as the parties usually have different memories of the exact terms of the contract. This is a particular combination of a purchase and a credit. This is a slightly more complicated transaction than others, in which the lender now gives the borrower a single large sum of money, in exchange for many minor repayments from the borrower to the lender over time, normally on a fixed schedule. The smallest late repayments usually amount to more than the first large amount. The difference between payments is called interest.
Here, the money is given without a specific reason. It involves a change in the financial status of two or more companies or individuals. Buyers and sellers are separate entities or objects that often involve the exchange of valuables such as information, goods, services and money. It is always a transaction when goods are exchanged at one time and money at another time….