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Director
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Declining values for farm equipment and land, the collateral [#permalink]
 03 Mar 2005, 23:50
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Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, is going to force many lenders to tighten or deny credit this spring.
(A) the collateral against which farmers borrow to get through the harvest season, is
(B) which farmers use as collateral to borrow against to get through the harvest season, is
(C) the collateral which is borrowed against by farmers to get through the harvest season, is
(D) which farmers use as collateral to borrow against to get through the harvest season, are
(E) the collateral against which farmers borrow to get through the harvest season, are
The OG explanation for this says "Choice E, the best answer, succinctly and clearly identifies the Declining values as the collateral
against which farmers borrow and correctly uses the plural verb are."
Can anyone explain the portion in RED? Collateral means "Property acceptable as security for a loan or other obligation" - how can declining values be the collateral? I got this correct, but I thought the collateral was referring to the farm equipment!
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Manager
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same confusion here.
some thing can be collateral .
how can "values'' be collateral.
i opted D but was surprised to see the explanation.
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Manager
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[quote="Vithal"]Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, is going to force many lenders to tighten or deny credit this spring.
I am not sure about "for farm equipment" - why not "of farm equipment" ?
And then, it seems that collateral is reffering to the assets, why don't you think so ?
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Director
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Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring.
Couple of things,
1. Here "the collateral " is modifying farm equipment and land and not "Declining values:
2. Phrase in red conveys the same meaning as follows
"which the formers use as the collateral to borrow to get through the harvest season. Now as you see which refers to equipment and land. Also, because this is a non restrictive phrase even if you omit this phrase entirely still the sentence would make sense.
Declining values for farm equipment and land, are going to force many lenders to tighten or deny credit this spring.
In essence this example shows you a fancy way of using non restrictive clause.
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Praveen
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I am still confused about the clause "declining values for .."
i know this is not the subject of the question, but why is there "for" instead of "of" ?
this doesn't seem to be correct
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Director
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Now I am totally confused...with the question and the explanation too!!
Praveen:- Is the explanation in the OG correct?
Michalky:- I agree with you..it should be declining values of not for! (with whatever meaning for has as per webster dictionary)
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Director
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michalky wrote: I am still confused about the clause "declining values for .."
i know this is not the subject of the question, but why is there "for" instead of "of" ?
this doesn't seem to be correct
very interesting... OG explanation is perfectly right, so is the usage of for instead of "of". Here is why.
Remember here we are talking about value of something as a collateral (& not the true value)or in other words value for collateral.
Lets say I have a diamond watch worth $1000.00 that is the market value because that is how much I paid for it. Now when I keep this as a collateral the lender might value that only at $700 to guard himself against any market fluctuations. Now, do you guys see the difference?. Eventhough the value of the watch is $1000, value for collateral it is valued only at $700. Hope I didn't confuse guys even more now 
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Praveen
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praveen_rao7 wrote: michalky wrote: I am still confused about the clause "declining values for .."
i know this is not the subject of the question, but why is there "for" instead of "of" ?
this doesn't seem to be correct very interesting... OG explanation is perfectly right, so is the usage of for instead of "of". Here is why. Remember here we are talking about value of something as a collateral (& not the true value)or in other words value for collateral. Lets say I have a diamond watch worth $1000.00 that is the market value because that is how much I paid for it. Now when I keep this as a collateral the lender might value that only at $700 to guard himself against any market fluctuations. Now, do you guys see the difference?. Eventhough the value of the watch is $1000, value for collateral it is valued only at $700. Hope I didn't confuse guys even more now I got your example - but the problem, as I see it, is in saying "declining value for the watch as collateral" - I guess the confusion is how could declining value for the watch be a collateral? A reduced value could be...as in $700 (the adjusted value) can be the collateral...but... 
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Director
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Vithal wrote: praveen_rao7 wrote: michalky wrote: I am still confused about the clause "declining values for .."
i know this is not the subject of the question, but why is there "for" instead of "of" ?
this doesn't seem to be correct very interesting... OG explanation is perfectly right, so is the usage of for instead of "of". Here is why. Remember here we are talking about value of something as a collateral (& not the true value)or in other words value for collateral. Lets say I have a diamond watch worth $1000.00 that is the market value because that is how much I paid for it. Now when I keep this as a collateral the lender might value that only at $700 to guard himself against any market fluctuations. Now, do you guys see the difference?. Eventhough the value of the watch is $1000, value for collateral it is valued only at $700. Hope I didn't confuse guys even more now I got your example - but the problem, as I see it, is in saying "declining value for the watch as collateral" - I guess the confusion is how could declining value for the watch be a collateral? A reduced value could be...as in $700 (the adjusted value) can be the collateral...but... problem I see in your example by using "as collateral" you are equating values for collateral. Easy way to solve this problem is by introducing a non restrictive clause as in choice E.
declining value for the watch, which is a collateral
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Praveen
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Manager
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praveen_rao7
very interesting... OG explanation is perfectly right, so is the usage of for instead of "of". Here is why.
Yup, this is what I was thinking, that would be the only explanation ...thanks!
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Director
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oops..what was I thinking!!! 
got it!..thanks praveen
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CEO
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Vithal wrote: Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, is going to force many lenders to tighten or deny credit this spring.
(A) the collateral against which farmers borrow to get through the harvest season, is
(B) which farmers use as collateral to borrow against to get through the harvest season, is
(C) the collateral which is borrowed against by farmers to get through the harvest season, is
(D) which farmers use as collateral to borrow against to get through the harvest season, are
(E) the collateral against which farmers borrow to get through the harvest season, are
The OG explanation for this says "Choice E, the best answer, succinctly and clearly identifies the Declining values as the collateral
against which farmers borrow and correctly uses the plural verb are."
Can anyone explain the portion in RED? Collateral means "Property acceptable as security for a loan or other obligation" - how can declining values be the collateral? I got this correct, but I thought the collateral was referring to the farm equipment!
Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring.
What is which referring to?
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CEO
Joined: 21 Jan 2007
Posts: 2797
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praveen_rao7 wrote: Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring.
Couple of things,
1. Here "the collateral " is modifying farm equipment and land and not "Declining values:
2. Phrase in red conveys the same meaning as follows
"which the formers use as the collateral to borrow to get through the harvest season. Now as you see which refers to equipment and land. Also, because this is a non restrictive phrase even if you omit this phrase entirely still the sentence would make sense.
Declining values for farm equipment and land, are going to force many lenders to tighten or deny credit this spring.
In essence this example shows you a fancy way of using non restrictive clause.
I am still confused.
1. What type of nonrestrictive phrase is it? (not that it really matters, just curious)
2. the dangling "which"
Declining values for farm equipment and land, the collateral against [noun] farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring.
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CEO
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bmwhype2 wrote: praveen_rao7 wrote: Declining values for farm equipment and land, the collateral against which farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring.
Couple of things,
1. Here "the collateral " is modifying farm equipment and land and not "Declining values:
2. Phrase in red conveys the same meaning as follows
"which the formers use as the collateral to borrow to get through the harvest season. Now as you see which refers to equipment and land. Also, because this is a non restrictive phrase even if you omit this phrase entirely still the sentence would make sense.
Declining values for farm equipment and land, are going to force many lenders to tighten or deny credit this spring.
In essence this example shows you a fancy way of using non restrictive clause. I am still confused. 1. What type of nonrestrictive phrase is it? (not that it really matters, just curious) 2. the dangling "which" Declining values for farm equipment and land, the collateral against [noun] farmers borrow to get through the harvest season, are going to force many lenders to tighten or deny credit this spring. 1. just realized its an appositive.
2. still not sure of which is referring to 
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