Question
What does it mean to say that a borrower gives collateral? The borrower has a priority property interest in the event that the borrower defaults
What does it mean to say that a borrower "gives collateral"?
The borrower has a priority property interest in the event that the borrower defaults on a loan.
The lender has no property interest in the event that the borrower defaults on the loan.
A party other than the borrower or the lender has a property interest in the event that the borrower defaults on the loan.
The lender has a property interest in the event that the borrower defaults on the loan.
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The Legal and Regulatory Environment of Business
Authors: Marisa Pagnattaro, Daniel Cahoy, Manning Magid, Lee Reed, Pe
17th edition
78023858, 978-1259621741, 125962174X, 978-0078023859
