A late charge provision structured as an increased interest rate on the entire remaining principal on default is ____________ since it is a penalty provision in disguise.
a) not considered a penalty
b) unenforceable (answer maybe)
c) fair dealing
a) not considered a penalty
b) unenforceable (answer maybe)
c) fair dealing
A partial payment agreement entered into by a residential landlord and tenant memorializes the landlord’s receipt of partial rent and: a) the tenant’s promise to pay the remainder of the rent on or before a rescheduled due date.
b) notification of the landlord’s right to serve a 3- day notice on failure to pay the remaining balance.
c) Both a. and b (maybe answer)
b) notification of the landlord’s right to serve a 3- day notice on failure to pay the remaining balance.
c) Both a. and b (maybe answer)
Mortgage rates cannot drop further than the 10-year Treasury Note (T-Note) rate, plus: a) 1.4%.
b) 2.4% (maybe)
b) 2.4% (maybe)
By guaranteeing the note, a guarantor agrees to buy the note from the private lender or carryback seller, a process called: a) subrogation
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