What type of contract is a personal loan where installment payments are made monthly?

personal loan
skye_12299 asked:


I live in the state of Ohio and I am trying to figure out if the personal loan I signed for through a financial institution is considered written contract, written account, or promissory. I made monthly installment payments.

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Category: Credit | Tags: , , 2 comments »

2 Responses to “What type of contract is a personal loan where installment payments are made monthly?”

  1. wilderwriter
    June 29th, 2009 at 1:41 pm

    It is often called a promissory note but it is also a written contract (as apposed to a oral contract). I have never heard of a written account other than in the sense of a story written down not as a kind of financial instrument.
  2. Modi
    July 1st, 2009 at 5:02 am

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