Terms of Credit

Terms of credit refer to the conditions and requirements that are associated with obtaining credit. These conditions and requirements are agreed upon by the lender and the borrower and are outlined in a credit agreement.

The terms of credit may include:

- Interest rate: This is the amount charged by the lender for the use of the credit. It is usually expressed as an annual percentage rate (APR).
- Collateral: This is property or assets pledged by the borrower to secure the credit. It serves as a guarantee that the lender will be able to recover their money if the borrower defaults on their payments.
- Documentation: This refers to the paperwork and documentation required by the lender to process the credit application. This may include proof of income, tax returns, bank statements, and other financial documents.
- Repayment terms: This refers to the schedule of payments that the borrower must make to repay the credit. It includes the amount of each payment, the frequency of payments, and the duration of the repayment period.

Lender's Land

Lender's land is not a term of credit. It refers to the property or assets owned by the lender. This property or assets are not part of the credit agreement and are not used as collateral for the credit.

Therefore, the correct answer is option D - Lender's land.