Credit

Credit may refer to:

See also

Loan

In finance, a loan is the lending of money from one individual, organization or entity to another individual, organization or entity. A loan is a debt provided by an entity (organization or individual) to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower.

In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time.

The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent.

Liberty

Liberty, in philosophy, involves free will as contrasted with determinism. In politics, liberty consists of the social and political freedoms enjoyed by all citizens. In theology, liberty is freedom from the bondage of sin. Generally, liberty seems to be distinct from freedom in that freedom concerns itself primarily, if not exclusively, with the ability to do as one wills and what one has the power to do; whereas liberty also takes into account the rights of all involved. As such, liberty can be thought of as freedom limited by rights, and therefore cannot be abused.

Philosophy

Philosophers from earliest times have considered the question of liberty. Roman Emperor Marcus Aurelius (121–180 AD) wrote of "a polity in which there is the same law for all, a polity administered with regard to equal rights and equal freedom of speech, and the idea of a kingly government which respects most of all the freedom of the governed." According to Thomas Hobbes, "a free man is he that in those things which by his strength and wit he is able to do is not hindered to do what he hath the will to do" (Leviathan, Part 2, Ch. XXI).