Instructions: Identify the Following Term(s)

question 108

Short Answer

Instructions: Identify the following term(s).
Creole

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Definitions:

Subrogation

The legal process by which an insurance company, after paying a loss to its insured, acquires the insured's rights to pursue any third party responsible for the loss.

Exoneration

The act of being absolved from blame or responsibility, particularly in a legal context.

Reimbursement

Reimbursement involves compensating someone for expenses they have incurred on your behalf.

Security Interest

A security interest is a legal claim or right granted by a borrower to a lender as collateral for a loan, securing payment or performance of an obligation.