Examlex
Standardized tests are used in efforts to
Exempt Property
Assets that are protected by law from being seized by creditors or during bankruptcy proceedings.
Collateral
Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to make payments.
Creditor
An individual or organization to whom money is owed by a debtor.
Co-Sign
To sign a legal document alongside another person, often agreeing to take responsibility if the primary signer fails to meet the terms.
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