Question

3. Credit or loan refers to an agreement between:
(a) lender and borrower
(c) government and tax payer
(b) consumer and produc
(d) all the above​

Answer 1

Answer:

a

Explanation:

a borrower takes loan from lender and undergo agreement by depositing collateral

Answer 2

Option A

Credit or loan refers to an agreement between: lender and borrower

Explanation:

• A credit agreement is a legitimately required agreement progressed among a character who borrows money and the lender.
• It is accepted superimposed by both parties and outlines the phases of repayment, the fees, additional costs and all the laws and conditions about the loan.
• The credit agreement is frequently needed before the borrower can utilize the funds from the lender.
• These words customarily are accepted upon at the start. The borrower must understand and sign the terms of the offer, thereby agreeing to them.

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