Collateral
Revision as of 23:43, 31 May 2020 by Kevmwangi (talk | contribs) (Created page with "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== Accord...")
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.
