Question

Which among the following statements is correct regarding the term 'Collateral"?
(a) Collateral is an asset that the borrower owns and uses this as a guarantee to
the loan is repaid.
(b) Property such as land titles, deposits with banks, livestock are some common
collateral used for borrowing.
(c) If the borrower fails to repay the loan, the lender has no right to sell the asset
to obtain payment
(d) Both (a) and (b)

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Answer 1

Answer:

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