Borrowers look for easy terms of credit while taking a loan.

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Detailed Solution

The above statement is true.
The terms of credit between a borrower and a lender list several things about the agreement between the parties. Things like the rate of interest, amount of payment, and collateral. While taking a loan, any borrower will look for easy terms of credit. Easy terms of credit mean low-interest rates, easy conditions for payment, less collateral as well as less documentation. The terms of credit vary from one credit arrangement to another. Terms of credit may vary depending on the nature of the lender and the borrower. Thus, the terms of credit form an important part of the agreement.

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