Q2. Define cheque and what do we mean by collateral? – InterviewSolution

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1.	Q2. Define cheque and what do we mean by collateral?
Answer» cheque :-A cheque is a paper instructing the BANK to pay a specific amount from the PERSON's account to the person in whose name the cheque has been drawn. COLLATERAL :-something pledged as security for repayment of a loan, to be forfeited in the EVENT of a DEFAULT.

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