Examlex
Which of the following is a type of collateral involving rights evidenced by indispensable paper?
Default
The failure to fulfill a legal obligation, especially the failure to pay back a loan on time or to appear in court when required.
U.S. Department of Education
A Cabinet-level department of the United States government that oversees federal education policy and administers federal assistance to schools and students.
Repay
The act of paying back money that was borrowed.
Tax Refund
A reimbursement to a taxpayer of any excess amount paid to the government over the tax liability.
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