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U.S.maintained a large current account deficit in all of the following years EXCEPT
Workout Agreement
A formal contract between a debtor and his or her creditors in which the parties agree to negotiate a payment plan for the amount due on the loan instead of proceeding to foreclosure.
Mortgage Loan
A loan secured by the collateral of real estate property, where the borrower is obliged to pay back with a predetermined set of payments.
Personal Guaranty
A legal commitment by an individual to repay a loan or debt in the event that the primary borrower defaults.
Main Purpose Rule
A legal principle that exempts a guarantor from the requirement of a written contract if the primary intent of the guarantee is to serve the guarantor's own interests.
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