Subrogation Refers to an Agreement in Which a Third Party

question 99

True/False

Subrogation refers to an agreement in which a third party agrees to pay the debt owed by another party if that other party fails to pay his or her debt.

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Definitions:

Norm Of Reciprocity

A social norm that suggests individuals respond to each other in kind, returning benefits for benefits received.

Same Size

Equivalent or equal in magnitude, amount, or dimensions.

Dramatic Nature

The quality of being strikingly emotional or theatrical in character or events.

Emotional Response

refers to the psychological reaction to an event or information, characterized by feelings such as happiness, anger, fear, or sadness.