A Line of Credit Is Unsecured,that Is,there Is No Pledge

question 18

True/False

A line of credit is unsecured,that is,there is no pledge of specific assets backing the loan.But companies can pledge assets against borrowed funds.These are called secured loans.

---

Definitions:

Delusion

A false belief or impression that is held despite invalidating evidence, often as a symptom of a psychiatric disorder.

Rescind

To revoke, cancel, or repeal a law, order, or agreement.

Detoxification Center

A facility specializing in helping individuals overcome substance abuse through medical and therapeutic interventions.

Nonrefundable

A payment or fee that cannot be returned to the payer under most circumstances.