Science, asked by nishant911641, 1 year ago

what is meant by collateral

Answers

Answered by VEDATsayer

Answer:

Collateral is an asset that a lender accepts as security for a loan. If the borrower defaults on the loan payments, the lender can seize the collateral and resell it to recoup the losses.

Answered by kinghappy

Answer:

· Collateral is an asset that a lender accepts as security for a loan. If the borrower defaults on the loan payments, the lender can seize the collateral and resell it to recoup the losses.

Explanation:

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