An Order by the Court That Ends the Mortgagor's Right

question 6

Multiple Choice

An order by the court that ends the mortgagor's right to redeem within a fixed time is referred to as

• A) pledge.
• B) foreclosure.
• C) equity of redemption.
• D) acceleration clause.
• E) redemption.

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Definitions:

Factory Equipment

This refers to the machinery and tools used in the process of manufacturing goods within a factory setting.

Treasury Stock

Represents shares that were once part of the outstanding shares and have been bought back by the corporation.

Depreciation Expense

An expense recorded to allocate the cost of a tangible asset over its useful life.

Cash Dividend

A cash distribution of earnings by a corporation to its shareholders.