When Nancy Buys Her House, the Mortgage Company Will Usually

question 82

Multiple Choice

When Nancy buys her house, the mortgage company will usually conduct a(n)

• A) Appraisal.
• B) Contingency clause.
• C) Dual agent.
• D) Earnest money.
• E) Purchase agreement.

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Definitions:

Shipment Contract

A legal agreement specifying that the seller will arrange for goods' transportation to a specific destination, but the risk of loss passes to the buyer once the carrier takes possession.

Destination Contract

A contract specifying that the seller is responsible for delivering goods to a particular destination, with the risk of loss transferring upon delivery.

Bill Of Lading

A legal document issued by a carrier to a shipper, detailing the type, quantity, and destination of the goods being carried.

Title

A legal term referring to the legal right of ownership of property or asset.