The Nonrecordation of a Mortgage Does Not Affect the Legality

question 43

True/False

The nonrecordation of a mortgage does not affect the legality of the instrument between the mortgagor and the mortgagee.

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Definitions:

Average Collection Period

The amount of time it typically takes for a business to receive payments owed by its customers, indicating the efficiency of a company's credit and collection policies.

Year 2

Typically refers to the second year of a specified period, often used in financial analysis to compare annual performance or growth.

Average Sale Period

The average time taken to sell a product or service, typically calculated over a specific time frame.

Inventory Turnover

A metric indicating the number of times a company has sold and replaced inventory over a given period; it measures the efficiency of inventory management.