____ Is(are)an Ongoing Cost of Home Ownership

question 83

Multiple Choice

____ is(are) an ongoing cost of home ownership.

• A)The down payment
• B)Closing costs
• C)Property taxes
• D)Sales taxes
• E)Points

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Definitions:

Revoke Acceptance

In contract law, the right of a buyer to reject goods after initial acceptance if they substantially fail to conform to the contract or because of a latent defect.

Nonconformity

The failure of a product or service to meet specified standards or expectations, typically resulting in a breach of warranty.

Cure the Defect

The process of correcting or fixing a flaw or error in a legal document or procedure.

Confirmed Letter of Credit

A letter of credit that has an additional guarantee by a second bank, ensuring payment under the letter of credit if the issuing bank fails to do so.