Professional Documents
Culture Documents
The transaction conditions depend on the parties; for example, when a person lends
money to another, he may do so without asking for any security or demand some
security for the payment of money. Then, in case of default, when there was no
security taken, person who lent the money may sue for repayment. And if there is
some security taken, that security may be used to recoup the lost money.
ption;it is a conveyance of the legal interest in property. It means that after the
repayment of loan, the conveyance becomes void.