________ provides a lender with the right to seize specific assets if the loan is not paid back as specified in the loan contract.

Question

Quizplus · Accepted Answer

Secured debt is a type of debt where the borrower pledges an asset as collateral, providing the lender with a legal right to seize the asset in the event that the borrower fails to repay the loan as per the terms in the loan contract. The collateral serves as a security to the lender to mitigate the risk of default.

________ Provides a Lender with the Right to Seize Specific