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SECURITIES THAT BANKS REQUIRED IN 1800’S AS COLLATERAL FROM CUSTOMERS

Summary of the collaterals and banking system in 1800's

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language english
wordcount 1574 (cca 4 pages)
contextual quality N/A
language level N/A
price free
sources 3
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Preview of the essay: SECURITIES THAT BANKS REQUIRED IN 1800’S AS COLLATERAL FROM CUSTOMERS

SECURITIES THAT BANKS REQUIRED IN 1800’S AS COLLATERAL FROM CUSTOMERS Seligman, 1927 denoted that, the banks during the period 1800’s accepted factoring as one way of giving surety that loans borrowed by he customers are going to be paid. Factoring was used by companies who were not able to arrange traditional bank financing. With factoring, companies would create invoices that were submitted to the Fostrian Business capital. The Fostrian would then purchase the invoice and advance the ...





... law also requires the bank to be committed with ensuring that all written as well as verbal communication between the bank and the customers to be in simple business language. The bank is also expected to adopt civil manners for interacting with its borrowers (Seligman, 1927).
Essay is in categories

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Finance
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Banking
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Economics
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Economics
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Microeconomics
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Comments
Princess R.

The essay gives us a brief glimpse of the bank practices in the 1800s. Interesting discussion!




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