Examlex
With a secured loan, such as a home loan, retaking the collateral generally ensures the lender will recover most or all of its costs.
Liable
Liable means responsible by law; legally answerable.
Stop Payment
An instruction to a bank not to honor a check or payment previously authorized, often due to disputes or errors in the transaction.
Drawee Bank
The bank upon which a check is drawn and is responsible for paying the amount specified.
Bank Officer
An individual who holds a management or executive position within a banking institution, responsible for certain operational aspects.
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