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:

Preparation

The process of getting ready for an event or activity by making plans or arrangements.

Ground Rules

Basic guidelines or rules established at the beginning of a meeting, event, or project to ensure smooth operation and mutual respect among participants.

High-Ranking Executives

Individuals holding senior management positions within an organization, responsible for making major decisions and guiding the company's direction.