Credit

{
  "id": "MLC-T-LAW-001385",
  "term": "Credit",
  "field": "Law",
  "definition": "An agreement where a borrower receives goods, services, or money in exchange for a promise to repay the lender at a later date, usually with interest. It represents the trust a lender places in a borrower's ability and willingness to fulfill financial obligations. Creditworthiness is assessed through factors like payment history, debt-to-income ratio, and credit scores, which range from 300 to 850.",
  "url": "https://mlchart.com/terminology/law/credit/"
}