Examlex
Under no circumstance can a loss on the sale of a personal use asset be deducted.
Recourse
The right to seek compensation or legal remedy in a situation where one has been wronged or harmed.
Utmost Good Faith
A principle requiring parties in certain types of contracts, such as insurance, to act honestly and not mislead or withhold critical information from one another.
Real Estate Agent
A licensed professional who represents buyers or sellers in real estate transactions, acting as an intermediary to facilitate sales, purchases, or rentals of properties.
Transaction
A business deal or action, such as buying or selling, that involves the exchange of goods, services, or funds.
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