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An Example of A(n) ________ Is Building a New Home

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An example of a(n) ________ is building a new home on a lot.


Definitions:

Deficiency

In legal and financial terms, deficiency refers to the shortfall between the owed debt and the proceeds from a sale of collateral or asset used to repay it.

Cure

The process of resolving a breach of contract in a manner that satisfies the aggrieved party or terms of agreement.

Good-faith Purchaser

An individual who buys property without knowing of any claims, liens, or encumbrances against it, thereby acquiring clean title.

Voidable

A term applied to a contract that one or both parties have the ability to either withdraw from or enforce.

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