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Which of the Following Is True About the Concept of a Trait

question 11

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Which of the following is true about the concept of a trait?


Definitions:

Collateral

Assets or property pledged as security for the repayment of a loan, subject to seizure on default.

Foreclosure

A proceeding in which a mortgagee either takes title to or forces the sale of the mortgagor’s property in satisfaction of a debt.

Repossess

The act of taking back possession of property by a seller or lender from the buyer or borrower, typically due to failure in payment.

Auction

A public sale in which goods or properties are sold to the highest bidder.

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