Examlex
Case 12-1
Matthew is the newest inmate to a maximum-security institution. He was sentenced to serve 20 years for the crime of armed robbery and attempted manslaughter. Matthew is anxious about going to prison. This is the first time he will serve time in prison. In the past he has only served short jail terms.
-Part of this process will include learning how inmates create their own economy and even their own language. This inmate language is known as:
Discharge
In legal terms, the release or extinguishment of an obligation, debt, or charge.
Collateral Mortgage
A type of mortgage where the borrower provides collateral other than the purchased property to secure the loan.
Building Mortgage
A type of loan specifically used for the purchase, construction, or improvement of buildings, secured by the building itself.
Acceleration Clause
A contractual clause that allows a lender to demand immediate repayment of all outstanding loans if certain conditions are violated.
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