2006-10-23 09:00:28 · 4 answers · asked by dino213aa 2 in Business & Finance ➔ Credit
People in the credit department of the bank I work for drop this term all the time. I was just wondering what it means.
2006-10-25 06:15:36 · update #1
There is no such word as convenence.
2006-10-24 01:25:52 · answer #1 · answered by HomePapa 3 · 0⤊ 1⤋
a covenent is defined as an agreement.
Covenant, in its most general sense, is a word for a solemn promise or similar undertaking.
More specifically, a covenant, in contrast to a contract, is a one-way agreement whereby the covenantor is the only party bound by the promise. A covenant may have conditions and prerequisites that qualify the undertaking, including the actions of other parties, but there is absolutely no inherent agreement by such other parties to fulfil those requirements. Consequentially, the only party that can break a covenant is the covenantor.
2006-10-28 13:40:28 · answer #2 · answered by friendly advice from maine 5 · 0⤊ 0⤋
Do you mean convenience or covenant or convergence?
2006-10-25 08:36:12 · answer #3 · answered by MJ 4 · 0⤊ 1⤋
this means in comerical banking or anything ,,, that something can be added too, that you have to live up to or accept...
2006-10-28 03:48:38 · answer #4 · answered by RED WHITE AND BLUE 4 · 0⤊ 0⤋