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A Bond That Is Backed by the Tolls Collected from a Bridge

question 29

Multiple Choice

A bond that is backed by the tolls collected from a bridge to be constructed from the proceeds of the bond is an example of:


Definitions:

Bankruptcy Law

The area of law that deals with the rules and processes through which individuals or businesses can eliminate or reorganize their debts under the jurisdiction of a federal bankruptcy court.

Debtors

Individuals or entities that owe money to another individual or entity.

Creditors

Individuals or entities to whom money is owed by a debtor.

Unsecured Creditors

Unsecured Creditors are individuals or entities that have loaned money without taking collateral and thus stand last in line to be paid if the debtor defaults or files for bankruptcy.

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