Social Sciences, asked by sweety329, 1 year ago

what is collateral? for 1mark questions

Answers

Answered by ana19

2

something pledged as security for repayment of a loan, to be forfeited in the event of a default.

Answered by Anonymous

2

Collateral is an asset that the borrower own and uses this as a guarantee to a Leander until the loan is repaid

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