Examlex
The "new economy" refers to a world in which computer use is widespread, information is quickly transmitted, and technical change is rapid.
Mortgage
A legal agreement by which a bank or creditor lends money at interest in exchange for taking title of the debtor's property, with the condition that the conveyance of title becomes void upon the payment of the debt.
Debtor
An entity or person that owes money to another party.
Instrument
A tool or device used for performing specific tasks, often scientific, musical, or technical functions.
Closing Package
The collection of documents that finalize a transaction, often involving the transfer of property or completion of a financial agreement.
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