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samualson samualson
wrote...
Posts: 2459
6 years ago
Discuss the similarities and differences between a line of credit and a revolving credit agreement.
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
Read 64 times
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Replies
wrote...
6 years ago
 A line of credit and revolving credit agreement are agreements between a borrower and a bank detailing the maximum amount of credit that the bank will provide the borrower at any one time.  A line of credit agreement is informal and requires no legal commitment on the bank's part.  A legal obligation arises when a revolving credit agreement is used.
 
samualson Author
wrote...
6 years ago
TY!
wrote...
6 years ago
You're welcome
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