In a transaction involving the extension of credit, there are two parties - the creditor and the debtor.

Question

Quizplus · Accepted Answer

In a transaction involving the extension of credit, there are indeed two parties - the creditor and the debtor. The creditor is the one providing the credit (such as a bank or lending institution) and the debtor is the one receiving and being obligated to repay the credit (such as an individual or business).

In a Transaction Involving the Extension of Credit, There Are