What is the difference between a line of credit and a revolving credit agreement?
What will be an ideal response?
A line of credit is generally an informal agreement or understanding between the borrower and the bank about the
maximum amount of credit that the bank will provide the borrower at any one time. Under this type of agreement
there is no legal commitment on the part of the bank to provide the credit. In a revolving credit agreement, which is a
variant of this form of financing, a legal obligation is involved.
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FDI in the form of ________________: Increases the level of competition in a market Drives down prices Improves the welfare of consumers
Fill in the blank(s) with the appropriate word(s).
A metes-and-bounds legal description
A) can be made only in areas excluded from the rectangular survey system. B) is not acceptable in court in most jurisdictions. C) must commence and finish at the same identifiable point. D) is used to complete areas omitted from recorded subdivision plats.