What Is the Definition of Default

question 5

Multiple Choice

What is the definition of default?

• A) According to the UCC a debtor must be late on 3 consecutive payments and not remedy within 90 days.
• B) The parties define default in the security agreement.
• C) The debtor failing to maintain insurance/
• D) None of the above.

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Definitions:

Slaveholder

A person who owns slaves, historically involved in the forced labor system where individuals were owned and treated as property.

Impeachment Charges

Formal accusations made against a public official, alleging misconduct in office.

Abraham Lincoln

The 16th President of the United States, who led the country during the Civil War and is credited with preserving the Union and emancipating the slaves.

Andrew Johnson

The 17th President of the United States, who served from 1865 to 1869, known for his struggle with Radical Republicans over the reconstruction of the South after the Civil War.