What Is the Concept of Equity and When Does It

question 85

Short Answer

What is the concept of equity and when does it occur?

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Definitions:

Endorsement

The act of signing one's name on the back of a check or other negotiable instrument or the addition of a provision to an insurance policy, altering its coverage.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer and payee usually named.

Proper Use

The appropriate, intended, or correct manner of utilizing something according to guidelines, laws, or specifications.

Chattel Mortgage

A loan arrangement where personal movable property is used as security for the loan.