Examlex
Which of the following statements is FALSE?
Agents
Individuals or companies authorized to act on behalf of another person or company in commercial transactions.
Payment Default
The failure to make a required payment on a loan or other debt obligation by the due date.
Loan Covenants
Agreements between a borrower and a lender that the borrower must comply with to remain in good standing.
Principal and Interest
The original amount of a loan (principal) combined with the cost of borrowing that money (interest).
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