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Even in an emergency situation,a warrantless search conducted by an administrative agency constitutes a violation of the Fourth Amendment.
Installment Account
A credit account where the borrower repays the principal and interest over a set period through scheduled payments.
Line of Credit
A flexible loan arrangement with a financial institution that allows a borrower to draw funds up to a specified limit, repay, and redraw as needed.
Trade Credit
An arrangement where a buyer is allowed to purchase goods or services and pay the supplier at a later date, often used to finance short-term business needs.
Consumer Credit
Types of personal loans extended to consumers for purchasing goods and services, including credit cards and installment loans.
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