select the correct answer. which term describes the right of a lender to sell collateral to get back the…

select the correct answer. which term describes the right of a lender to sell collateral to get back the principal if the borrower cannot repay the loan? a. collateral b. interest c. lien

select the correct answer. which term describes the right of a lender to sell collateral to get back the principal if the borrower cannot repay the loan? a. collateral b. interest c. lien

Answer

Brief Explanations:

A lien is a legal right that allows a lender to take possession of and sell collateral to recoup the principal in case of borrower default. Collateral is the asset pledged, and interest is the cost of borrowing.

Answer:

C. lien