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Advanced Placement (AP)Advanced Placement (AP)
17 October, 10:58

Which of the following terms refers to a promise made to lenders by a borrower?

Question options:

Record

Covenant

Bargain

Investiture

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Answers (2)
  1. 17 October, 11:04
    0
    covenant : promise made by the borrower to the lender
  2. 17 October, 11:22
    0
    Covenant

    Explanation:

    Record refers to data or documents that are stored for later reference.

    Covenant is an agreement in which the borrower accepts a condition or that some actions are forbidden.

    Bargain is a negotiation in which the parties agree on the terms of a purchase.

    Investiture is a formal act in which a person receives a rank.

    According to this, the term that refers to a promise made to lenders by a borrower is covenant.
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