The Property Given to a Creditor as Security for a Debt

question 25

Multiple Choice

The property given to a creditor as security for a debt is known as:

• A) a mortgage.
• B) collateral.
• C) a pledge.
• D) a lien.
• E) ademption.

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Definitions:

Deinstitutionalization

Refers to the process of reducing the population of mental hospitals and similar institutions by discharging patients into the community, often criticized for lacking adequate support for those discharged.

Underfunding

The insufficient provision of financial resources necessary for the operation, sustainability, and success of a program, institution, or initiative.

Facilities

Physical buildings, spaces, or resources provided for a particular purpose, such as recreational, educational, or health services.

Programs

Programs refer to a set of planned activities designed to achieve specific outcomes, often used in contexts like education, social services, and software development.