An Arrangement in Which a Third Party Promises to Be

question 44

Multiple Choice

An arrangement in which a third party promises to be primarily liable with the borrower for the payment of the borrower's debt is referred to as ________.

• A) foreclosure arrangement
• B) disposition arrangement
• C) surety arrangement
• D) guaranty arrangement

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Definitions:

Outgroup Homogeneity Bias

The assumption that outgroup members are more similar to one another than ingroup members are to one another.

Outgroup Homogeneity Bias

The perception that individuals outside one's own group are more similar to each other than they really are.

Outgroup Members

Individuals who are perceived as not belonging to one's own group, often defined in contrast to ingroup members, and may be subject to differing treatment or biases.

Outgroup Homogeneity Effect

A psychological phenomenon in which an individual perceives members of a group to which they do not belong as being more similar to each other than they actually are.