The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

OPEN END CREDIT Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

A line of credit that does not place any restriction on withdrawal or repayment (other than a maximum credit limit). Any deposits are available for re-borrowing in such an account. Interest is charged only on the balance amount and debts can be settled at any time, without penalty.

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