A Clause in a Debt Contract Requiring That the Borrower

question 60

Multiple Choice

A clause in a debt contract requiring that the borrower purchase insurance against loss of the asset financed with the loan is called a

• A)collateral-insurance clause.
• B)prescription covenant.
• C)restrictive covenant.
• D)proscription covenant.

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Definitions:

Revolutionary Nationalism

A political ideology that combines nationalism with a commitment to revolutionary change, often aiming to establish or preserve a nation-state.

Containment

A geopolitical strategy aimed at preventing the expansion of a hostile power or ideology, notably used by the United States during the Cold War.

Demilitarized Zone

A region or area that has been agreed upon by opposing military forces not to conduct any military activities or maintain military installations.

Ayn Rand

was a Russian-American writer and philosopher known for developing a philosophical system called Objectivism and for her novels "The Fountainhead" and "Atlas Shrugged."