Define Collateral Security.

11 months ago

The term collateral Security is used in two senses. In a narrow sense,  it refers to the securities deposited by the third party to secure advance for  the borrower, in a wider sense, it denotes any type of security on which the  creditor has a personal right of action on the debtor in respect of the  advance. 

Rusma Khadka
May 23, 2023
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