Types of debentures
- Naked debentures; this is a debenture where no collateral security is required in order to access the loan by the borrower from the lender. In case of failure to pay the loan, the lender (debentures holder) has no powers to take over or sell the borrowers property to recover his/her Money.
- Mortgage debenture. This is a debenture where the collateral security is required by the lender before the borrower is given a loan. In case of failure to pay the loan by the borrower, the debenture holder has the powers and rights to sell the borrower’s property and recover his/her money.
CATEGORIES Economics
TAGS Dr. Bbosa Science
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