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