_____ Is an Asset Pledged by a Borrower to a Bank

question 45

Multiple Choice

_____ is an asset pledged by a borrower to a bank when he or she takes a loan.

• A)A bond
• B)Owner's equity
• C)Collateral
• D)A mutual fund
• E)A hedge fund

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Definitions:

Contract of Agency

A legal agreement in which one party (the agent) agrees to act on behalf of another party (the principal) in business transactions.

Information

Data, facts, or knowledge provided or learned about something or someone.

Consciously Ratifies

The act of officially approving or confirming a decision or agreement with full awareness.

Ratified

Formally approved or confirmed, often in the context of contracts or agreements to signify official validation.