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Anything of value pledged by the borrower that the lender
Chapter 11, Problem 11.1.73(choose chapter or problem)
QUESTION:
Anything of value pledged by the borrower that the lender may sell or keep if the borrower does not repay the loan is called the or collateral.
Questions & Answers
QUESTION:
Anything of value pledged by the borrower that the lender may sell or keep if the borrower does not repay the loan is called the or collateral.
ANSWER:Step 1 of 2
As know that security is anything of value pledged by the borrower that the lender may sell or keep if the borrower does not repay the loan. This is also known as collateral.