Resting the line is a formal or informal agreement between a bank and a borrower concerning the maximum loan a bank will allow the borrower for a one-year period.

Question

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The correct term for such an agreement is a "line of credit," not "resting the line." A line of credit is a formal agreement between a bank and a borrower regarding the maximum loan amount available over a specified period, typically one year.

Resting the Line Is a Formal or Informal Agreement Between