What do you mean by the term collateral
Answers
Answered by
29
it means something that is pledged as security for the repayment of loan.
manyakhater:
choose it as the brainliest if it helped
:-) ^_^
you have copied from internet.
no it was in the dictionary
but, copied na
same to same
yes
you can make the ans in your language
ok
hmm, right
Answered by
44
COLLATERAL :-is an asset that borrower owns and uses this as a guarantee to a lender until tha loan is repaid.If the borrowers fails to repay the loan, the lender has right to sell the asset or collateral to obtain the payment . some eg:- are lands,buildings,cattles.
cheers☺
cheers☺
Similar questions