Examlex
An increase in input costs in the production of electric automobiles caused the price of electric automobiles to rise.Holding everything else constant, how would this affect the market for gasoline-powered automobiles (a substitute for electric automobiles) ?
First Mortgage
A primary mortgage on property that has precedence over all other voluntary liens or mortgages recorded against the property.
Registered
Officially listed or recorded by an authority to acknowledge legal status or compliance.
Equity of Redemption
Equity of redemption is the legal right of a mortgagor to reclaim their property after having paid off the full amount of the mortgage plus any interest and costs due.
Unregistered Mortgage
A mortgage that has not been formally registered with the relevant legal or governmental registry, potentially affecting its enforceability and priority.
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