![]() The term came "from Middle French crédit (15c.) "belief, trust," from Italian credito, from Latin creditum "a loan, thing entrusted to another," from past participle of credere "to trust, entrust, believe". ![]() ![]() The term "credit" was first used in English in the 1520s. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower. Credit encompasses any form of deferred payment. granting a loan), or they may consist of goods or services (e.g. The resources provided may be financial (e.g. In other words, credit is a method of making reciprocity formal, legally enforceable, and extensible to a large group of unrelated people. The resources provided by the first party can be either property, fulfillment of promises, or performances. Credit (from Latin verb credit, meaning "one believes") is the trust which allows one party to provide money or resources to another party wherein the second party does not reimburse the first party immediately (thereby generating a debt), but promises either to repay or return those resources (or other materials of equal value) at a later date.
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