Which One of the Following Is the Amount of a Mortgage

question 11

Multiple Choice

Which one of the following is the amount of a mortgage loan outstanding?

• A)mortgage remainder
• B)mortgage face value
• C)mortgage par value
• D)mortgage principal
• E)mortgage accrual

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Definitions:

Convention on Contracts

Refers to international agreements or treaties that set out the rules governing contracts, especially those that have cross-border implications.

Statute of Frauds

A legal concept that requires certain types of contracts to be written and signed by the parties involved to be legally enforceable.

Parol Evidence

A legal rule that prohibits the introduction of outside evidence to add, modify, or contradict the terms of a written agreement.

Clerical Error

A minor mistake or omission made due to oversight or mishandling in documents, records, or transactions, typically seen as non-material and correctable.