What are restrictions that impose limits on the actions of a borrower called?
A)Conditions
B)Collateral
C)Covenants
D)Chattels

Question

Quizplus · Accepted Answer

Restrictions that impose limits on the actions of a borrower are called covenants. Conditions refer to requirements that must be met before the loan is considered valid. Collateral is a form of security for the lender, provided by the borrower as a guarantee for repayment. Chattels are movable personal property.

What Are Restrictions That Impose Limits on the Actions of a Borrower