When Unscrupulous Lenders Targeted Poor and Minority Home Buyers in the Run-Up

question 5

Multiple Choice

When unscrupulous lenders targeted poor and minority home buyers in the run-up to the recent housing bubble, they engaged in the practice of

• A) discrimination.
• B) reverse redlining.
• C) ethnic targeting.
• D) class warfare.

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Definitions:

Articles of Partnership

A document that outlines the arrangements and conditions under which a partnership operates, including the rights and responsibilities of the partners.

Partnership by Estoppel

A legal doctrine where a person acts or is treated as if they are a partner in a business, even though no formal partnership exists, leading to liability.

Written Partnership Agreement

A legal document outlining the terms, responsibilities, and profit-sharing mechanisms among partners in a business.

Legal Obligation to Indemnify

A requirement by law for one party to compensate another for losses or damages that have been incurred.