Question: A document that uses a property to secure the payment of a debt or the discharge of an obligation is called a ( n )

A document that uses a property to
secure the payment of a debt or the
discharge of an obligation is called a(n):
a. lien.
b. I.O.U.
c. tax Assessment.
d. grant deed.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Ratio Analysis - Access the information contained in your selected organization?s balance sheet and income statement to calculate the following: Liquidity ratios Current ratio Acid-test, or quick,...

Q:

In June of 1987, Charlie Leonard began searching for a small income-producing apartment building in which to invest. Leonard had just graduated from Harvard College, and he was working for a...

Q:

1. The goals, anticipations and positions of _______________ of real estate are diametrically opposed. a) brokers and sellers b) lenders and owners c) brokers and the commissioner d) None of the...

Q:

1. Mr., Edwards, a former policeman, was hired to do investigations for the stock exchange When it was found out that Edwards had cheated on the examination required by the stock exchange. he was...

Q:

You helped me a couple of weeks ago. I was wondering if i could setup a time for tomorrow that you could be available to help me with some questions. I will pay $20 per question. They are short and I...

Q:

Good morning i need help about the questions ( Business law) 1.What is a Lien? Lien is an encumbrance on (claim against) property to satisfy a debt or protect a claim for the payment of a debt. i...

Q:

I need help with this essay. Performing tax research to find correct answers to a given tax situation and composing memoranda summarizing these findings are important parts of tax practice. As...

Q:

Ms. Ivy originally approached the company, Peterson Accounting, when she discovered problems with her faulty title to the vacant land. She hired the company to value the hotel property so she could...

Q:

Ms. Ivy originally approached the company, Peterson Accounting, when she discovered problems with her faulty title to the vacant land. She hired the company to value the hotel property so she could...

Q:

1.Carl applies for fire insurance for his house. Before the application is processed, Carl's house burns down. Carl will have coverage if the insurance company A.Doesn't find out about the fire until...

Q:

King Solomon is a rich farmer in Tetebia, a town in the Asou Municipal Assembly. He owns over 100,000 hectares of farmlands. However, he fears the worst might happen and wants to do some investments...

Q:

1) Identify the following elements: Support Point (P.A), Power (P), Resistance (R), Power arm, and Resistance arm; for the machine that we will present to you below, and indicate what genre (first...

Q:

What would firms avoid using factors or accepting trade credit these days even though they are readily available?

Q:

Solve B. 6a2-23a +20. a +2 2a2-a-10 2a-5