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Albert is 4 years old and attending day care. His caregivers tell his mother that he has many friends, is sensitive to the other children, and is generally a happy child. Albert is likely to demonstrate what kind of attachment to his mother?
Acceleration Clause
A clause in a debt instrument (e.g., a mortgage) that requires the payment of the balance of the debt on the happening of a specific event, such as default on an installment payment.
Equitable Mortgage
A mortgage subsequent to the first or legal mortgage. A mortgage of the mortgagor’s equity.
Covenant to Pay
An agreement in a contract where one party promises to pay a specified sum to another.
Original Mortgagor
is the initial borrower who takes out a mortgage loan secured by the property being mortgaged.
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