Examlex
Which of the following statements is true?
Discharge
In legal terms, the release or extinguishment of an obligation, debt, or charge.
Collateral Mortgage
A type of mortgage where the borrower provides collateral other than the purchased property to secure the loan.
Building Mortgage
A type of loan specifically used for the purchase, construction, or improvement of buildings, secured by the building itself.
Acceleration Clause
A contractual clause that allows a lender to demand immediate repayment of all outstanding loans if certain conditions are violated.
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