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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
U
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Underwriting |
The process of
analyzing a borrower's capability to honor repayment of a loan
(evaluating his or her credit, assets, employment) along with
the value of the property being purchased, to help minimize
the risk involved for the party lending the purchase
money |
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Unilateral
contract |
A one-sided contract
in which only one party is legally under obligation by the
terms of the contract; one party promises an action to the
second party, who is not legally required to respond, but if
the second part does comply, then the first party is obligated
to honor the promise made |
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Unsecured
loan |
A loan that is not
guaranteed by collateral |
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Usury |
The act of charging
more than the maximum rate of interest permitted by
law |
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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