Legal Definition and Related Resources of Line Of Credit

A fixed limit of credit prearranged between the lender and the borrower, allowing the borrower to borrow up to the full extent of the limit from time to time. See Pittinger v South Western Paper Co. of Fort Worth, (Tex.Civ.App.) 151 S. W.2d 922.

An informal arrangement between a bank and a customer establishing a maximum loan balance that the bank will permit the borrower to maintain.

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Line Of Credit in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Line Of Credit in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Line Of Credit in the Legal Abbreviations and Acronyms Dictionary.

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Borrowing Power.

Concept of Line of Credit in the context of Real Property

A short definition of Line of Credit: An amount of money a borrower may obtain from a bank without a special credit check. The money is generally for business purposes and the amount would not include the borrower’s own home loan and other personal secured loans.

Concept of Line of Credit in the context of Real Property

A short definition of Line of Credit: An amount of money a borrower may obtain from a bank without a special credit check. The money is generally for business purposes and the amount would not include the borrower’s own home loan and other personal secured loans.