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A Debtor May Redeem Collateral at Any Time Prior to the Time

question 3

True/False

A debtor may redeem collateral at any time prior to the time that the secured party has disposed of the collateral or entered into a binding contract for resale by tendering the entire obligation that is owed plus any legal costs and expenses incurred by the secured party.

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Definitions:

Annulments

Legal procedures that declare a marriage null and void, as if it never legally existed, due to certain circumstances that were present at the time of the marriage.

Not Common

Refers to something that is rare or not frequently encountered.

Independent Adoption

A privately arranged adoption, as when a doctor, lawyer, or other person puts a couple in contact with a pregnant woman desiring that her child be adopted.

Confidential Adoption

An adoption process where the birth parents' and adoptive parents’ identities remain sealed and private.

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