Question

Which among the following lenders will possibly not ask the borrower to sign the terms of

credit?

(a) Banks
(b) moneylenders
(c) cooperatives
(d) private agencies​

Answer 1

Answer:

(c)Cooperatives is the correct answer

Answer 2

(b). Moneylenders will possibly not ask the borrower to sign the terms of credit.

• The terms of credit include the interest rate, security, and documentation related to the lending of money. Borrowing money from moneylenders is the informal way of borrowing money in which they do not possibly sign the terms of credit.
• As these kinds of loans rely on personal relationships and social sanctions as means of enforcement.