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Not protected by a guarantee or collateral
An unsecured loan is based solely on the borrower's creditworthiness.
This type of loan doesn't require pledging assets as security.
Common in personal loans, credit cards, and some business financing.
Not protected by legal or physical safeguards
The witness provided unsecured testimony without legal protection.
This means the testimony wasn't guaranteed confidentiality or immunity.
Used in legal contexts where protection measures are absent.
In finance, 'unsecured' typically means no collateral is required, but interest rates may be higher due to increased risk.
In legal contexts, 'unsecured' refers to lack of protection, while in finance it refers to lack of collateral.
From 'un-' (not) + 'secured' (protected or guaranteed)
Primarily used in financial contexts to describe loans or debts without collateral. In legal contexts, it refers to information or agreements lacking formal protection.