Difference between revisions of "Collateral"
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Latest revision as of 23:43, 31 May 2020
Collateral is when something valuable—often property or equipment— that a lender would have a right to seize and sell if the loan is not repaid.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Collateral. Something valuable—often property or equipment— that a lender would have a right to seize and sell if the loan is not repaid.
