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Borrowed money: Difference between revisions
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:''“The task of the court in such cases is clear. It must first look at the nature of the transaction which the parties have agreed. If in form it is not a [[loan]], it is not to the point to say that its object was to raise money for one of them or that the parties could have produced the same result more conveniently by borrowing and lending money. But if the court comes to the conclusion that the form of the transaction is only a sham and that what the parties really agreed upon was a loan which they disguised, for example, as a discounting operation, then the court will call it by its real name and act accordingly.”'' | :''“The task of the court in such cases is clear. It must first look at the nature of the transaction which the parties have agreed. If in form it is not a [[loan]], it is not to the point to say that its object was to raise money for one of them or that the parties could have produced the same result more conveniently by borrowing and lending money. But if the court comes to the conclusion that the form of the transaction is only a sham and that what the parties really agreed upon was a loan which they disguised, for example, as a discounting operation, then the court will call it by its real name and act accordingly.”'' | ||
{{ | {{sa}} | ||
*[[Capital structure]] | *[[Capital structure]] | ||
*{{isdaprov|Cross Default}} | *{{isdaprov|Cross Default}} | ||
*{{isdaprov|Specified Indebtedness}} | *{{isdaprov|Specified Indebtedness}} | ||