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Briefly explain the order of information in a good-news letter. Identify four types of good-news letters.
Consumer Good
A product or commodity that is produced and purchased to satisfy the personal or family needs of the consumer.
Secured Interest
A legal claim or lien on assets or property, granted to a lender as security for the repayment of a debt, giving the lender rights to the collateral if the debt is not repaid.
Commercially Reasonable
A standard in law and business that measures actions against what a reasonable person engaged in commerce would believe is acceptable or customary practice.
Repossessed Vehicle
A vehicle taken back by a lender or seller from the buyer due to failure to make agreed payments.
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