Melissa works as an attorney for BigBagWorks, a company that works with different manufacturing and production units to turn their waste into something useful. For some manufacturers, however, Melissa signs the contracts on behalf of BigBagWorks, as the company's mention is likely to drive up prices. In the context of contract liability, such a contract is an example of: a. a gratuitous agency. b. an unincorporated association. c. the partially disclosed principal. d. the disclosed principal

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan