A Principal Has the Right to Assert Any Rights the Creditor

question 1

True/False

A principal has the right to assert any rights the creditor could have asserted against the debtor, including taking security interests.

---

Definitions:

Federal Government

The national government of a federated state, which shares sovereignty with the individual state or provincial governments.

Property Tax

A tax on the value of property, such as the value of a home.

Personal Taxes

Taxes levied on the income or property of individuals.

Personal Income

The total earnings of an individual from all sources before taxes, including wages, dividends, interest, and rents.