In A(n)________ Transaction,the Borrower Keeps the Title of His Real

question 39

Multiple Choice

In a(n) ________ transaction,the borrower keeps the title of his real property with a third party and in the event of default,the third party can sell the property so that the creditor can recover his loan.

• A)strict foreclosure
• B)land contract
• C)deed of trust
• D)equity of redemption

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Definitions:

Agent

An individual or entity authorized to act on behalf of another person or company in commercial transactions.

High-End

Products or services that are considered to be of the highest quality and price within their category.

Efficiency-Wage Theories

Economic theories that suggest higher wages can increase worker productivity and efficiency, thereby justifying above-equilibrium wage rates.

Equilibrium Wage

The wage rate at which the quantity of labor supplied equals the quantity of labor demanded, resulting in a stable employment situation without surpluses or shortages.