FinancingCâu 86 / 120
A clause that allows a lender to declare the entire loan balance due immediately upon the borrower's default is an:
a.Alienation clause
b.Acceleration clause
c.Subordination clause
d.Escalation clause
Giải thích
An acceleration clause lets the lender demand the full outstanding balance at once when the borrower defaults, for example by missing payments. It is a prerequisite to foreclosure for the whole debt. Without it, the lender could only pursue overdue installments.
Trích dẫn luật: CA Civil CodeLuyện miễn phí toàn bộ 120 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- A lender will make a loan at a maximum 75% LTV on a property appraised at $500,000. The largest loan available is:
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