Collateral Is

question 125

Multiple Choice

Collateral is

• A) property that is pledged to the lender if a borrower cannot make his or her debt payments.
• B) a prevalent feature of debt contracts for households.
• C) a prevalent feature of debt contracts for businesses.
• D) all of the above.
• E) only A and C of the above.

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Definitions:

Mistake Of Value

A misunderstanding about the importance or worth of something, often considered in legal contexts regarding contracts.

Ray

In physics, a ray is a straight line that originates from a point and extends infinitely in one direction, often used to model the path of light or other radiation.

Baseball Card

A type of trading card related to baseball, often featuring a player, which is collected and traded among fans.

Online Contract Forms

Standardized legal documents available on the internet that can be used to create binding agreements between parties.