Gabriel applies for a home loan and, mark signs the agreement promising to pay off the debt in case gabriel fails to do so. in this case mark is the assignor.
In finance, a loan is the lending of money by one or more individuals, entities, or other organizations to another individual, entity, etc. The recipient incurs a debt and is usually obliged to pay interest until the debt is repaid. repayment of the principal borrowed.
A loan is a type of debt owed by an individual or other entity. Lenders (usually corporations, financial institutions, or governments) make advance payments to borrowers. In return, the borrower agrees to certain terms, including financing costs, interest, repayment dates, and other terms
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