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A Term That Refers to the Borrower's Assets or Net

question 74

Multiple Choice

A term that refers to the borrower's assets or net worth is called:


Definitions:

Material Alteration

A significant change to a document or contract that can affect its validity or alter its meaning and obligations.

Defense

The act of defending against a charge, accusation, or claim in legal proceedings or contexts.

Mentally Incompetent

A legal status indicating that an individual is not capable of managing their affairs due to mental incapacity.

Promissory Notes

Written promises to pay a specified sum of money to a certain person at a specified time or on demand.

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