Social Sciences, asked by maitri3001, 5 months ago

What is meant by Collateral?​

Answers

Answered by karthikkumar34
4

Answer:

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

Explanation:

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Answered by Himanidaga
4

Collateral is an asset the Person owns which is borrowers like Building, Vehicle, Livestock, etc and uses this as a guarantee to a Lender until the loan is repaid.

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