The Laws of the Indies,dictated the Patterns of Settlement for Colonies

question 6

Multiple Choice

The Laws of the Indies,dictated the patterns of settlement for colonies established by which European group?

• A)The French
• B)The Portuguese
• C)The British
• D)The Spanish

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Definitions:

Strict Foreclosure

A legal process by which the secured lender obtains the title to the mortgaged property without the sale thereof, when the borrower fails to meet the obligations.

Deficiency

The difference between the amount owed on a loan and the amount recovered from selling the asset securing the loan if the latter is less.

Mortgagor

A mortgagor is an individual or entity who borrows money to purchase property and pledges that property as security for the loan.

Mortgagee's Interest

The financial interest a lender has in the property serving as collateral for a loan until the mortgage is fully repaid.