When Firms Do Not Wish to Accept the Rules of the CIGS,they

question 146

Multiple Choice

When firms do not wish to accept the rules of the CIGS,they usually rely on _____ to settle contract disputes.

• A)UN involvement
• B)arbitration
• C)local codes
• D)U.S.law

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Definitions:

Title Theory

Title theory pertains to mortgage law where the mortgage lender holds title to the mortgaged property until the borrower has fully paid off the loan.

Mortgages

Legal agreements in which a lender lends money at interest in exchange for taking title of the borrower's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Mortgage

A legal agreement by which a bank, credit union, or other lender lends money at interest in exchange for taking title of the borrower's property, with the condition that the conveyance of title becomes void upon the payment of the debt.

Default

The failure to fulfill a legal obligation, such as not making a scheduled payment on a loan.