Word Origin and History for loan. mid-13c.from Old Norse lanrelated to lja "to lend," from Proto-Germanic laikhwniz (cf. Old Frisian len "thing lent," Middle Dutch leneDutch leen "loan, fief," Old High German lehanGerman Lehn "fief, feudal tenure"), originally "to let have, to leave (to someone)," from PIE leikw- "to leave" (see relinquish).
The Norse word also is cognate with Old English læn "gift," which did not survive into Middle English, but its derived verb lænan is the source of lend. As a verb, loan is attested from 1540s, perhaps earlier, and formerly was current, but has now been supplanted in England by lendthough it survives in American English.
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Writing for the unanimous court, Justice Judith L. French determined that the Short-Term Loan Act (STLA) does not prohibit lenders registered under the separate Mortgage Loan Act (MLA) from making interest-bearing, payday-style loans. Also, under the MLA, a registered lender is permitted to require that an interest-bearing loan be repaid in a single installment, Justice French wrote.
The decision reverses the judgment of the Ninth District Court of Appeals and returns the case to the trial court for additional proceedings. Ohio Neighborhood Finance, which operates lending businesses called Cashland, registered as a lender under the MLA in 2008.
The company is not registered to make loans under the STLA. On December 5, 2008, Cashland loaned 500 to Rodney Scott. The cash city jewelry & loan alsip il agreement set up this payment schedule: One payment in the amount of 545.
Because of the lack of regulations, payday loans in Texas will cost you about twice as much as they would in other states. (3) And the fact that these loans are so expensive, means that many customers cant pay them back on time, and are forced to take on more fees in order to extend the loan. This is how the cycle of debt is created. You deserve better than a dangerous predatory loan. Consider all your options before deciding on where to get cash in Dallas.
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