Proponents of transmission flushing often claim 100% of the fluid is replaced. This is untrue for several reasons. When the engine is running and the transmission is in park, only a part of the fluid is circulated. A good deal of fluid simply flows from the pump back to the pan, through the pressure relief valve.
DEFINITION of 'Mortgagee'. An entity that lends money to a borrower for the purpose of purchasing a piece of real property. By accepting a mortgage on the real property, the lender creates security in the full repayment of the loan in the future.
Freebase(0.00 / 0 votes)Rate this definition: In finance, a loan is a debt evidenced by a note which specifies, among other things, the principal amount, interest rate, and date of repayment. A loan entails the reallocation of the subject asset for a period of time, between the lender and the borrower.