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Legal advice - Essay Example

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Scientific advancement has introduced more intangible things as products to sale in the market and resultantly, the nature of business to handle the same has also been modified. Banking, too, has also been adopting itself according to the…
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Download file to see previous pages Winter Ltd is a company which sells books on the internet and is now willing to expand its business by selling CD’s & DVD’s, but for this purpose it needs capital and now has approached Spring Bank for a loan of 2 Million. For Spring Bank, just like all other banks, it is an opportunity to grasp and on the same time it has to be very careful about the collaterals and security offered by Winter Ltd. as to repayment of the loan because every loan has an inherent risk of default. In case of intangible assets the risk involved might be of some other nature as compared to loans which are secured against some physical asset. In order to avoid any risk Spring Bank would have to be very careful of all the circumstances and financial condition of Winter Ltd. before extending loan facility to them. It would be appropriate that before reaching a decision as to loan for Winter Ltd, we must consider the types of loan which can be offered to them by the bank.
There are commonly two major types of loans which are being offered to commercial entities to support their business and the same can be considered in case of Winter Ltd, too. These are Overdraft Facility or Term Loan.
Overdraft is an arrangement between client and its bank in which continues flow of cash is guaranteed in a bank account; bank agrees to provide a facility of loan to an agreed limit. In such a case this overdraft facility might be one time relaxation or may be a permanent feature of account operation with the client. In such case this overdraft may be created and paid off in continues manner. Customers credit cards are also useful links for his credit worthiness.2 This facility, however, is not flawless and involves risk on part of bank mainly. Bank is providing this facility on the basis of client’s reputation and is without any collateral which means it is an unsecured loan and hence invites a lot of caution on part of bank to allow ...Download file to see next pagesRead More
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