In the 5 Cs of Credit, Character Refers to the Borrower's

question 129

True/False

In the 5 Cs of credit, character refers to the borrower's attitude toward credit obligations.

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Definitions:

False Assertion

The act of declaring something that is untrue, often with the intention to deceive or mislead.

Unilateral Mistake

An error made by one party in a contract that does not necessarily void the contract unless the other party was aware and took advantage of the mistake.

Undue Influence

A situation where an individual is able to influence another person's decisions due to a relationship of trust, leading to unfair outcomes.

Independent Advice

Professional advice offered by a party with no vested interest in the outcome, ensuring unbiased and impartial guidance.