Failure to Make an Installment Payment Will Often Trigger an Acceleration

question 142

True/False

Failure to make an installment payment will often trigger an acceleration clause, which makes the entire outstanding debt due and payable immediately.

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Definitions:

First Amendment

An amendment to the United States Constitution that protects various rights, including freedom of speech, religion, press, assembly, and the right to petition the government.

Privileges and Immunities Clause

A provision in the U.S. Constitution that prevents a state from treating citizens of other states in a discriminatory manner.

Collect Taxes

The process by which a governmental authority requires individuals or entities to contribute to public revenues.

Judicial Review

The power of a court to review legislative and executive actions, such as a law or an official act of a government employee or agent, to determine whether they are constitutional.