When Interest Is Charged on a Deficiency, Any Part of a Month

question 88

True/False

When interest is charged on a deficiency, any part of a month counts as a full month.

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Definitions:

Right to Buy

A legal entitlement or option allowing a person to purchase property or stock under specific conditions.

English Rule

A legal principle stating that the losing party in a lawsuit must pay the legal costs of the winning party.

Assignment Notice

A formal notification that an assignment, often of a contract or legal right, has been made to another party.

Expressly Prohibits

Explicitly forbids certain actions or uses, often found within contractual or legal language to remove ambiguity.