A(n)________ Is a Clause in an Instrument That Allows the Payee

question 42

Multiple Choice

A(n) ________ is a clause in an instrument that allows the payee or holder to quicken payment of the principal amount of the instrument, plus accrued interest, upon the occurrence of an event.

• A)acceleration clause
• B)prepayment clause
• C)extension clause
• D)forestallment clause

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Definitions:

Early Colony

A territory under the immediate complete political control of a state, distinct from the home territory of the sovereign, established during the early stages of expansion or colonization.

South Carolina

A state located in the southeastern region of the United States, known for its coastal cities, historical significance, and cultural heritage.