Explain the Two Phases of the Deconstruction Process, and Provide

question 4

Essay

Explain the two phases of the deconstruction process, and provide examples to illustrate each move.

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Definitions:

Cosigner

an individual who agrees to be responsible for the repayment of a loan or debt if the primary borrower fails to pay.

Bankruptcy

A legal procedure for dealing with debt problems of individuals or businesses; officially declared inability to pay off debts.

Liable

Being legally responsible for a particular act or omission, usually involving payment of damages or compliance with specific court orders.

Suretyship

A contractual agreement in which one party (surety) guarantees the obligations of a principal to a third party.