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:

Airspace

The space above the earth's surface that is available for aircraft to fly in, which is regulated by both national and international laws.

Serious Interference

A significant disruption or hindrance to someone's rights, property, or personal affairs, often used in the context of legal disputes.

Conversion

An unauthorized act that deprives an owner of personal property without their consent, often involving the altering or taking of property.

Pure Opinion

An expression based solely on someone's personal view, belief, or judgment, not on facts or knowledge.