What is a Credit?
A credit (derived from latin credere „believe “and creditum „in good faith entrusted “) is the customs over letting of money (notes, coins, Giralgeld) or justifiable things (consumption credit) on time. Loan agreements, hire-purchases, deferments of payment, changes represent typical examples of credits. By the applicant for the credit as a rule to refund the nominal amount is that credits sum of money and with consumption credits one that credits to commodity same commodity with funds credits.
Since the applicant for the credit is not obligated, the same notes and coins or the same commodity, which he received to give change it may not only use the notes, coins or goods, but proceed with them as desired. Often a credit is entgeltlich, so that by the applicant for the credit together with restitution of the credited article interest is to be normally paid.
Besides meant „with someone it has credit “„somewhat well to also have “in the sense of confidence to enjoy that one is solvent and thus credit worthy. This economic appreciation covers also the business honor. Endangered someone the credit of another by the statement of facts, which are the truth contrary, it is responsible for the damage developing from it.