Examlex
Match each statement with the correct term.
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Debt Due
The amount of money that is owed and should be paid, typically by a specific deadline or upon demand.
Priority Loan
A type of loan that is given precedence over other debts, often in the context of repayment terms and bankruptcy proceedings.
Collateral
Assets pledged by a borrower to secure a loan or credit, which the lender can seize if the borrower defaults.
Defaults
Situations in which parties fail to fulfill their obligations under a contract or agreement.
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