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A promise or obligation to pay to another a certain amount of money which has no collateral?
Wiki User
∙ 12y ago
unsecured debt
Wiki User
∙ 12y ago
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What is a signed promise to pay back loan?
Collateral
If someone holds a debenture what can they do with it?
With a debenture, a company can hold a debt with another. A debenture is a loan agreement where there is no collateral or assets involved. It is based on the promise and credit history of the company that it will be paid back.
Is a 30 year fixed loan home collateral?
Not sure what the question is. If you take out a mortgage loan on a home. the Promissory Note is used to show the debt (the promise to repay) and a mortgage lien is placed on the home to show that the home is collateral for the Note if the promise to repay isn't kept. Does that answer the question?
What is another name for stocks and bonds?
Another word for Stocks is Equities; another word for Bonds is Fixed Income. Other words for stocks are shares, investments, and issue. Other words for bonds are sureties, securities, promise to pay, collateral, earnest, guaranty, and asset.
Can a person that loans money to a friend with a car title as collateral for the loan obtain the car if payment is not made?
Yes, if the promise of collateral can be documented. For example, if the lender has obtained a signed title as a "pledge", then the new title can be recorded when the payment agreement is breached, and the car sold to cover the remaining payments.
An obligation that we will fulfill?
A promise
What is a promise to pay back loan?
Collateral
What is an unsecured promissory note?
A promissory note is a document where you agree or promise to repay a certain amount of money to someone. If it is unsecured, it means that nothing was put up as collateral to back up your promise [such as a house, a car, stocks, etc. ].
What does obligation?
An obligation is something you are bound by duty to do. It could be a legal obligation arising from a contract, in which a person has promised to do a certain thing as a part of the contract. It could be a moral or ethical obligation which could arise as a result of a promise which is not legally binding, or from a relationship. E.g. "You said you'd visit the sick and elderly after church and you have an obligation to follow through." "I feel that, as a friend, I have an obligation to attend her funeral." "It's your obligation to take care of your brother's widow and children."
Which of the 5 c's shows Using your car or house as a promise to pay?
Collateral
What is a signed promise to pay back loan?
Collateral
If someone holds a debenture what can they do with it?
With a debenture, a company can hold a debt with another. A debenture is a loan agreement where there is no collateral or assets involved. It is based on the promise and credit history of the company that it will be paid back.
Is obligation a noun?
Yes, the word 'obligation' is a noun; a singular, common, abstract noun. An obligation is a thing to which a person is morally or legally bound; a promise, a contract, a law, a sense of duty.
Is a 30 year fixed loan home collateral?
Not sure what the question is. If you take out a mortgage loan on a home. the Promissory Note is used to show the debt (the promise to repay) and a mortgage lien is placed on the home to show that the home is collateral for the Note if the promise to repay isn't kept. Does that answer the question?
Features of a valid contract?
A contract must have a promise or obligation from one party in exchange for a promise or obligation from another party. There is no requirements that contracts be signed, witnessed, or even written to be enforceable. Oral contracts as well as contracts written on napkins in bars have been enforced by courts. A contract only requires that both parties are doing something in exchange for whatever the other party is doing.
How is collateral connected to a loan from a bank or credit union?
Collateral - in the form of a repayment promise or property... is a 'guarantee' that the person will repay the debt. If the borrower defaults on the repayments, the creditor can recover their money from the guarantor.
What does obliging mean?
An obligation is something you are bound by duty to do. It could be a legal obligation arising from a contract, in which a person has promised to do a certain thing as a part of the contract. It could be a moral or ethical obligation which could arise as a result of a promise which is not legally binding, or from a relationship. E.g. "You said you'd visit the sick and elderly after church and you have an obligation to follow through." "I feel that, as a friend, I have an obligation to attend her funeral." "It's your obligation to take care of your brother's widow and children."
