Credit that is extended on the borrowers promise to pay. There is no collateral kept as security.
Credit that is extended on the borrowers promise to pay. There is no collateral kept as security.
Nothing implied or stated on this page should be construed to be legal, tax, or professional advice. The Law Dictionary is not a law firm and this page should not be interpreted as creating an attorney-client or legal adviser relationship. For questions regarding your specific situation, please consult a qualified attorney.