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Discuss the main advantages and disadvantages of franchising.
Equity of Redemption
The right of a mortgagor to reclaim property in the process of foreclosure by paying the debt owed.
Debtor
An individual or entity that owes money to another; the opposite party in these transactions is known as a creditor.
Mortgagor
The borrower in a mortgage agreement, who pledges the property as security for the repayment of the loan.
Mortgagee
The lender in a mortgage agreement, typically a bank or financial institution, that has the legal rights to the property as security for the loan provided.
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