Which are purposes of a loan agreement

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Question 1: which of the following are purposes of a loan agreement?

  1. Establishing the means of control to protect the rights and interest of both parties.
  2. State the intentions of both the borrowers and lender in regard to the loan.
  3. Perfect a security interest in collateral.
  4. State the risk associated with the loan.

Option1 : 1 and 2

Option2 : 1, 2 and 3

Option3 : 2, 3 and 4

Option4 : 3 only

Reference no: EM132567971

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