BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
not doing what you have the legal right to do
|
|
|
giving up something that you have the right to keep
|
|
|
exchanging something of value for something else of value
|
|
|
offering a service as consideration
|
Detailed explanation-1: -Forbearance is the intentional action of abstaining from doing something. In the context of the law, it refers to the act of delaying from enforcing a right, obligation, or debt.
Detailed explanation-2: -: a refraining from the enforcement of something (such as a debt, right, or obligation) that is due. The policy provides a means of forbearance for borrowers meeting certain criteria. : the act of forbearing : patience.
Detailed explanation-3: -Forbearance is a form of repayment relief granted by a lender that temporarily postpones payments due from a borrower, while interest on the loan typically continues to accrue. The terms of forbearance are negotiated between the borrower and the lender.
Detailed explanation-4: -Forbearance is a temporary postponement of loan payments granted by a lender instead of forcing the borrower into foreclosure or default. The terms of a forbearance agreement are negotiated between the borrower and the lender.