Examlex
Which of the following describes intermediates transition states?
Deficiency
The difference between the amount owed on a loan and the proceeds from the sale of the asset securing the loan, if the sale amount does not cover the loan balance.
Breach Of The Peace
An act that disturbs public tranquility or order.
Repossession
The process by which a creditor takes back property from the borrower due to failure to meet the repayment terms of the loan.
Purchase-Money Security Interest
A legal claim granted to lenders over items purchased, serving as collateral for the loan used to purchase the goods.
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