Potential Hazards Identified in a PHA Will Often Affect the

question 47

Multiple Choice

Potential hazards identified in a PHA will often affect the

• A) Probability of failure side of the risk equation.
• B) Consequence of failure side of the equation

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Definitions:

Consideration

A fundamental concept in contract law that involves something of value exchanged between parties, serving as the reason or motive for entering into a contract.

Security Interest

is a legal claim on collateral that has been pledged, usually to obtain a loan, that gives a creditor the right to repossession if the debtor defaults.

Vested

A legal term indicating that an individual has an absolute right to an asset, benefit, or property, which cannot be taken away without consent.

Perfection

In legal terms, the process of securing a secured interest in an asset, ensuring priority over other claims in case of debtor default.