A loan agreement may be preceded by a(n)__________ which is a letter outlining the terms and conditions on which the lender will lend.

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A term sheet is a document outlining the terms and conditions of a loan agreement, usually drafted before the final loan agreement is signed. It serves as a preliminary agreement between the lender and borrower and outlines the key provisions of the loan, such as interest rate, repayment terms, and collateral requirements.

A Loan Agreement May Be Preceded by A(n)__________ Which Is