Driley50 Driley50

03-02-2021
Mathematics

contestada

In a secured loan, collateral is _________.

A) Valuable property that the borrower promises to give the lender in the event of default on the loan.

B) An agreement made in civil court agreeing that the borrower may be arrested in the event of default on the loan.

C) An agreement signed by a co-borrower promising to pay the loan in the event the primary borrower defaults on the loan.

D) And insurance policy taken out by the lender and paid for by the borrower to cover the lender from loss in the event of default.
Please explain.

Respuesta :

Missjo126 Missjo126

03-02-2021

Answer:

Valuable property that the borrower promises to give the lender in the event of default on the loan.

Step-by-step explanation:

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