What Are the 5 Cs of the Credit Decision

question 51

Multiple Choice

What are the 5 Cs of the credit decision?

• A) Contacts,conditions,collateral,cosigner,and capacity
• B) Character,capacity,collateral,capital,and conditions
• C) Cost,contacts,conditions,collateral,and capital
• D) None of these

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Definitions:

Reject the Offer

The act of declining a proposal or bid, potentially in negotiations, contracts, or transactions.

Accept the Offer

Agreeing to the terms or conditions presented in an offer, thereby entering into a binding contract.

Contractual Capacity

The threshold mental capacity required by law for a party who enters into a contract to be bound by that contract.

Contract

A contract is a legally binding agreement between two or more parties, enforceable by law.