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If a Mortgagor Wishes to Pay Off the Mortgage Debt

question 7

True/False

If a mortgagor wishes to pay off the mortgage debt before the due date so as to save interest, the right must be reserved at the time the mortgage is given.


Definitions:

Looking Backward

A utopian science fiction novel by Edward Bellamy that imagines a future society based on social harmony and economic equality.

Social Darwinist

A belief system that applies Darwin's theory of natural selection to society, suggesting that humans compete in a struggle for existence in which only the fittest survive.

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