Examlex
The basics of the welfare state in the United States started as part of:
Advance Payment
A prepayment made before the actual due date or before receiving the goods or services it is meant for.
Terminated Agency
The end of a legal relationship between a principal and an agent, where the agent can no longer act on behalf of the principal.
Secured Lending
A loan or extension of credit where the borrower pledges an asset as collateral to ensure repayment, reducing the risk for the lender.
Collateral
Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay according to the agreement.
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