Jim Rench is a Shareholder in the law firm of Stark & Knoll Co., L.P.A., Akron, Ohio. Jim has enjoyed a Martindale-Hubbell rating of â€œavâ€ for many years and has been recognized in... more
Jim Rench is a Shareholder in the law firm of Stark & Knoll Co., L.P.A., Akron, Ohio. Jim has enjoyed a Martindale-Hubbell rating of â€œavâ€ for many years and has been recognized in Best Lawyers in America (Banking Law) since 1995 and in Ohio Super Lawyers (Business, General) since 2004 . He is a member of numerous Bar and professional associations, including the National Association of C... view profile
When you buy something on credit, you borrow the money from a lender and put yourself in debt. The paperwork documenting this transaction is a debt/lending agreement. For example, simple debt / lending agreements are used to finance RV or boat purchases. More complicated debt / lending agreements for commercial business operations may include complex credit agreements, promissory notes, security and guarantee agreements, subordination or inter-creditor agreements, patent or trademark collateral security agreements, assignment and assumption agreements, hazardous substance indemnity agreements, mortgage agreements, and accounts receivable letters. When substantial amounts of money are involved, you'll want to use a business attorney with experience in negotiating and drafting debt and lending agreements.