Examlex
Explain what is meant by the concept of marketing utility. Identify and describe the four utilities created by marketing.
Security Interest
A legal claim or lien on collateral that gives a lender the right to repossession if the borrower defaults on the agreement.
Legal Enforceability
The characteristic of a contract or agreement that allows it to be upheld or compelled by law.
Perfection
The state of being free from all flaws or defects, or achieving the highest degree of excellence.
Balloon-Payment Mortgage
A mortgage that has relatively low fixed payments during the life of the mortgage followed by one large final (balloon) payment.
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