What Does the Abbreviation NAICS Stand For

question 71

Essay

What does the abbreviation NAICS stand for?

---

Definitions:

Preexisting Mortgage

A mortgage that is already in place on a property before any new agreements, purchases, or legal actions concerning the property.

Purchasing

involves the process of acquiring goods or services in exchange for monetary compensation.

Apartment Building

A residential building containing multiple apartments or units meant for separate tenants.

Warranty

A promise, statement, or other representation that an item has certain qualities; also, an insured’s promise to abide by restrictions, especially those written into an insurance policy. Also, an obligation imposed by law that an item will have certain qualities. Warranties made by means of a statement or other affirmation of fact are called express warranties; those imposed by law are implied warranties.