Loan Contracts Sometimes Prohibit Assignments with Due-On-Sale Clauses

question 124

True/False

Loan contracts sometimes prohibit assignments with due-on-sale clauses.

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Definitions:

Using Money

Likely referring to the utilization of financial resources or capital for transactions, investments, or other financial activities.

Term

A fixed or limited period for which something, such as an agreement or investment, lasts or is intended to last.

Due Date

The date by which an obligation, such as a payment or submission, is required to be fulfilled.

Note Issued

A written promise to pay a specified amount of money, often with interest, at a future date.