Examlex

Solved

Improving Communication and Understanding Should Occur

question 88

Multiple Choice

Improving communication and understanding should occur:


Definitions:

Collateral

A borrower's asset that is given to a lender to secure the repayment of a loan.

Default

The failure to fulfill an obligation, especially failing to pay back a loan on time.

Surety

is a person or entity that takes responsibility for another's performance, such as fulfilling the terms of a contract or repaying a loan.

Default

Failure to fulfill a legal obligation or agreement, such as not making a payment on a loan by the due date.

Related Questions