What Does It Mean for a Loan to Be in Default

question 32

Multiple Choice

What does it mean for a loan to be in default?

• A)when the borrower of the a loan fails to repay on schedule according to a loan contract,without the agreement of the lender
• B)when the borrower of a loan fails to repay on schedule according to a loan contract,with the agreement of the lender
• C)when the lender of a loan fails to supplies the full amount of a loan to the borrower
• D)when the lender of a loan supplies the full amount of a loan to a borrower without any promise of being repaid
• E)when the lender of a loan fails to offer the promised sum

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Definitions:

Formal Outline

A structured framework for organizing the main points and subpoints of a speech or written document in a hierarchical manner.

Internet Search

The process of using a web search engine to find information on the internet.

Ethical Lapse

A failure to act in a morally correct manner, often violating accepted ethical standards.

Intellectual Property

A category of property that includes intangible creations of the human intellect, such as inventions, literary and artistic works, designs, and symbols, names, and images used in commerce.