Collateral Is a Secondary Source for Repayment of the Loan

question 5

True/False

Collateral is a secondary source for repayment of the loan if your cash flow from the business in insufficient to fulfill the obligation

---

Definitions:

Equal Protection Clause

A part of the Fourteenth Amendment to the U.S. Constitution requiring states to treat all its citizens equally under the law.

Amendment

A formal change or addition proposed or made to a document, law, or constitution.

Constitution

The fundamental principles and established precedents according to which a state or other organization is governed.

Statutory Offenses

Crimes that are defined by statute rather than by common law, specifically describing the prohibited conduct, the legal parameters of the offense, and the accompanying penalties.