If the Borrower Defaults on the Loan or Otherwise Fails

question 101

True/False

If the borrower defaults on the loan or otherwise fails to honor the terms of the agreement, the lender can seize and sell the collateral to recover the value of the loan only if the borrower agrees that it is unlikely that the loan will be repaid.

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Definitions:

Boolean Variables

Data types that can hold only two values: true or false.

Do...While Loop

A control flow statement that executes a block of code at least once and then repeats as long as a specified condition remains true.

Sentinel-Controlled While Loop

A loop that continues execution until a special value, known as a sentinel value, is encountered which terminates the loop.

Statement Above

A reference to a piece of code or comment mentioned in the preceding lines in a document or code.