Driley50
Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Get immediate and reliable answers to your questions from a community of experienced professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

In a secured loan, collateral is _________.

A) Valuable property that the borrower promises to give the lender in the event of default on the loan.

B) An agreement made in civil court agreeing that the borrower may be arrested in the event of default on the loan.

C) An agreement signed by a co-borrower promising to pay the loan in the event the primary borrower defaults on the loan.

D) And insurance policy taken out by the lender and paid for by the borrower to cover the lender from loss in the event of default.
Please explain.

Sagot :

Missjo126

Answer:

Valuable property that the borrower promises to give the lender in the event of default on the loan.

Step-by-step explanation:

Thanks for using our service. We aim to provide the most accurate answers for all your queries. Visit us again for more insights. We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We're dedicated to helping you find the answers you need at Westonci.ca. Don't hesitate to return for more.