Examlex
In the U.S. economy, which of the following statements is true?
Escrow Agent
A neutral third party responsible for holding and distributing funds or property until certain conditions are met in a transaction.
Real Property
Land and anything permanently attached to it, such as buildings and fixtures.
Insurable Interest
A legal requirement for obtaining insurance policies, stipulating that the policyholder must stand to suffer a financial or personal loss from the insured event.
Appraisal Clause
A provision in insurance policies allowing for a neutral party to determine the value of property or the extent of damage in case of disagreement.
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