Which of the Following Gives the Lender the Right or Option

question 8

Multiple Choice

Which of the following gives the lender the right or option to demand the loan balance owed if a default occurs.

• A)Nonrecourse clause
• B)Assignment clause
• C)Acceleration clause
• D)Default clause

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Definitions:

Diagnose

The process of identifying and determining the nature of a problem, issue, or condition, often leading to a solution or management strategy.

Occupational Injury

Any cut, fracture, sprain, or amputation resulting from a workplace accident or from an exposure involving an accident in the work environment.

Sprain

An injury to a ligament caused by tearing or stretching, often occurring in joints such as the ankle or wrist.

Amputation

The surgical removal of a body part, often a limb; in the workplace, it can result from severe injuries typically involving machinery or accidents.