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6 Cards in this Set

  • Front
  • Back
What is credit?
The privilage of using someone else's money for a period of time.
What is a debtor?
Anyone who buys on credit or recieves a loan
What5 is a creditor?
One who sells on credit or makes a loan
What is trust?
The creditor believes that the debtor will honor the promise to pay later for goods and services thath have been recieved and used.
What is loan credit?
when you borrow money to be used for some special purpose
whats is sales credit?
If you charge a purchase at the time you but the good or sertvice.