LOAN Definition

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LOAN is an agreement under which an owner of assets (the lender) allows another entity (the borrower) to use the assets for a specified time period. In return, the borrower agrees to pay the lender a payment (interest) and return the assets (cash) at the end of the agreed upon time period.

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OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

ODD LOT is a quantity of securities less than the accepted unit of trading.

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