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when you request a loan, the institution will give you a contract or paperwork of the loan. In the contract of payment, you will find any details regarding the loan: interest, amount, amortization and other the terms.
loan
The difference between loan licensing and contract manufacturing is that a loan licensing business has the ability to give out loans to their customers. A business that seeks out a contract manufacturer is looking for a company to manufacturer his or her products.
A co-signer is fully legally responsible for the debt of the loan if the other person on the loan fails to pay as per the signed loan contract. All rights and responsibilities are in the contract.
NO. Trade or Refinance
Probably not. You, like the primary party, signed a contract as an independednt, free-thinking adult. It is assumed under the eyes of the law that you knew what your were getting into. You are as bound by contract law as the primary.
There may be a way to terminate early, however there may be penalties. You must read the loan contract to determine its terms.
Most courts, that I have heard of, need a written "contract" with the person taking out the loan signature.
There are many services on the web that offer personal loan contract templates. See the related links for more information.
It depends entirely on the length of the loan and the interest rate of the contract. There are a number of web sites that offer free mortgage calculator.
It depends upon the specific terms and conditions of the contract. If the contract simply states it is the buyer's obligation to secure financing, then you can NOTcancel the contract. If the contract states that the agreement is conditional upon the buyer's ability to secure a loan, then you CAN cancel the contract.