Class 10th Important Question
CBSE 2022-2023
NCERT Social Science
Class 10th Economics CH: 3
CH:3 Social Science, Economics
Important Question for Board class 10th SST CH:3
Important Very Short Answer
Important Question Class 10th SSt Money and Credit
(a) Collateral is an asset that the borrow owns and uses this as a guarantee to a lenders until the loans is rapid.
(b) If the borrower fails to repay the loan, the lender has the right to sell the asset or collateral to obtain payment.
(c) Property such as land titles, deposits with banks, livestock are some common examples of collateral used for borrowing.