Question

what is collateral? with full explanation.​

Answer 1

Answer:

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I can tell you financial defination

Collateral is an asset pledged by a borrower to a lender, usually in return for a loan. The lender has the right to seize the collateral if the borrower defaults on the obligation. ... Thus, the bank may require $100,000 of collateral in order to lend you the money

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Answer 2

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.