Social Sciences, asked by nisha7253, 1 year ago

what is collateral? define it .

Answers

Answered by MUDITASAHU
21
Collateral- It is the security advanced to the lender by the borrower to obtain credit. Defaulting on loan payments leads to confiscation of collateral by the lender.
Answered by stylishtamilachii001
0

is an asset, such as land ,vehicle, building and livestock that a borrower owns and uses

this as a guarantee to a lender until the loan is repaid.

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