See Also: Mortgage agreement in principle(finance)
Revenue principle or realization principle(finance)
Eve principle(health)
Principle(money)
principle(dictionary)
Principle(medicine)
principle(dictionary)
Matthew principle(dictionary)
Peter Principle(money)
Peter principle(dictionary)

locust (iou) and Mortgage agreement in principle (finance)


locust (iou)



locust noun & verb. ME.
[Old & mod. French locuste from Latin locusta locust, crustacean (cf. LOBSTER noun1 & verb).]
A. noun.
Any grasshopper of the family Acrididae (the short-horned grasshoppers); esp. any of several species of Africa and the warm parts of Asia and the Americas that form large migratory swarms highly destructive to vegetation. ME.
b. fig. A person of devouring or destructive propensities. M16.
c. A grasshopper of the family Tettigoniidae (long-horned grasshoppers). Chiefly Austral. M19.
d. A cicada, esp. Cicada septendecim, the seventeen-year locust. US & Austral. M19.
The pod of the cassia, Cassia fistula; the pod of the carob tree, thought to resemble a locust. E17.
In full locust tree. Any of various leguminous trees; esp. (a) = CAROB 2; (b) a tree of the W. Indies and Guyana, Hymenaea courbaril; (c) N. Amer. = ACACIA 2 (also black locust); (d) NZ a kowhai, Sophora tetraptera. E17.
honey locust tree: see HONEY noun.
b. A club of the wood of the N. American locust tree, formerly carried by US police. US. M19.
Comb.: locust bean the fruit of the carob tree; locust-berry the fruit of a W. Indian tree, Byrsonima coriacea (family Malpighiaceae); the tree itself; locust-bird S. Afr. any of various birds (esp. certain pratincoles) that eat locusts, spec. (more fully great locust-bird) the European white stork, Ciconia ciconia; locust-eater S. Afr. = locust-bird above; locust tree: see sense 3 above; locust years years of poverty and hardship.
b. verb intrans. Swarm (and devour) as locusts do. rare. L19.

Mortgage agreement in principle (finance)


An expression of a mortgage lender's willingness to enter into an agreement subject to Other conditions being met, such as credit checks and a satisfactory property valuation.