A(n)________ Allows a Payee or Holder to Quicken Payment of the Principal

question 82

Multiple Choice

A(n) ________ allows a payee or holder to quicken payment of the principal amount of an 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:

Adapt

To adjust or become accustomed to new conditions or the environment, often to improve survival or functionality.

Environments

The surroundings or conditions in which a person, animal, or plant lives or operates.

Observational Learning

The process of acquiring skills, knowledge, or behavior by watching the actions or outcomes of others.

Vicarious Conditioning

A learning process in which an individual learns to respond in a certain way by observing others, who are called models, experiencing consequences for their behavior.