One of the Rights of a Lending Bank in the Event

question 13

True/False

One of the rights of a lending bank in the event a borrower defaults is the right to sell the security without notice to the borrower.

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Definitions:

Freight Charges

Costs associated with transporting goods from one place to another.

FOB Destination

A shipping term indicating that the seller pays for transportation and is responsible for the goods until they are received by the buyer.

FOB Shipping Point

A term indicating that the buyer assumes responsibility for the goods and the transportation costs at the point of origin.

Accounts Receivable-Stanton

Likely refers to the amounts due to a business (possibly named Stanton) from its customers for goods or services delivered on credit.