Choose the Word or Phrase in [ ] Which Will

question 68

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Paying mortgage points to get a lower rate of interest makes more sense if you expect to live in a home for a [longer | shorter] period of time.

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Definitions:

Holder In Due Course

A legal term for an individual or entity that has acquired a negotiable instrument in good faith and for value, and therefore has certain rights above the original payee.

Negotiates

The process by which parties come together to try and reach an agreement on a matter, often involving discussion and compromise.

Fictitious Payee Rule

A legal principle that holds a drawer of a check responsible when funds are obtained by fraud, if the drawer fails to exercise caution in issuing the check.

Immediate Loss

Financial damage or cost incurred directly as a result of an event, action, or decision, without any delay.