Identify the Following Term(s)

question 14

Short Answer

Identify the following term(s).
-Shang

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Definitions:

Non Est Factum

A legal defense meaning "it is not my deed" used when a person signed a document mistakenly or under a fundamental misunderstanding.

Foreclosure

A legal process by which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments by forcing the sale of the asset used as the collateral for the loan.

Mortgage

A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Innocent Misrepresentation

A false statement made by someone who believes it to be true, leading to a contractual agreement that can be voided.