Jerry Wants to Purchase a Flat

question 6

Multiple Choice

Jerry wants to purchase a flat.So he borrows $50,000 from XYZ bank.He signs a note for $50,000 and gives the bank a $50,000 mortgage on the flat as security for his repayment of loan.Within a year and a half,Jerry repays the entire loan.After the repayment of the loan,which of the following right does Jerry have against XYZ bank?

• A) Right to foreclosure
• B) Right to reimbursement
• C) Right of subrogation
• D) Right of redemption

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Definitions:

Manager's Power

The authority and influence a manager has over their direct reports, stemming from their position and the ability to affect employees' tasks and outcomes.

Newcomer Assimilation

The process by which a new member of a community, organization, or culture adopts its norms and practices.

Workplace Friendships

Relationships between colleagues that involve a genuine bond, mutual respect, and personal affection beyond professional interaction.

Leader-Member Exchange Theory

A theory in organizational behavior that focuses on the two-way relationship (dyadic relationships) between leaders and their followers.