Close-end credit

Definition:

An agreement in which advanced credit plus any finance charges are expected to be repaid in full over a definite time. Most real estate and automobile loans are closed-end agreements.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Cumulative voting

A system of voting for directors of a corporation in which shareholder's total number of votes is equal to the number of shares held times the number of candidates.

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