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Paying a Loan Ahead of Schedule Is One Way to Build

question 94

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Paying a loan ahead of schedule is one way to build a good credit rating.


Definitions:

Contract Law

A branch of law dealing with the formation, enforcement, and interpretation of agreements between parties.

Discharged by Agreement

The termination of contractual obligations through mutual consent of the parties involved.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of each party.

Anticipatory Breach

Occurs when one party to a contract indicates, before the performance is due, that they will not fulfill their contractual obligations.

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