Debt Cancellation Contract
- Debt Cancellation Contract
- A contract in which a bank agrees to cancel all or part of a customer's obligation to repay a loan due to an event such as death, disability or involuntary loss of employment. A debt cancellation contract is an alternative to a life insurance plan.
Debt cancellation contracts are a product that banks offer in lieu of credit insurance plans for credit cards and other forms of bank credit. Instead of credit insurance premiums, the customer pays the bank a fee.
Investment dictionary.
Academic.
2012.
Look at other dictionaries:
Debt — For other uses, see Debt (disambiguation). Personal finance Credit and debt Pawnbroker Student loan Employment contract … Wikipedia
debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 … Black's law dictionary
debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 … Black's law dictionary
Debt relief — is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. From antiquity through the 19th century, it refers to domestic debts, in particular agricultural debts and… … Wikipedia
contract — con·tract 1 / kän ˌtrakt/ n [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com with, together + trahere to draw] 1: an agreement between two or more parties that creates in each party a duty to… … Law dictionary
South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… … Wikipedia
ASSIGNMENT (OF DEBT) — History and Development Basically, Jewish law did not recognize the concept whereby personal rights or obligations (whether arising from contract or from a liability for damages in tort) could be legally assigned, either by the creditor or the… … Encyclopedia of Judaism
anticipatory breach of contract — n. A breach of contract that occurs when one party announces before the time scheduled for performance that he or she will not perform according to the contract. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy … Law dictionary
Loan — For other uses, see Loan (disambiguation). Finance Financial markets … Wikipedia
Mozambique — /moh zam beek , zeuhm /, n. 1. Formerly, Portuguese East Africa. a republic in SE Africa: formerly an overseas province of Portugal; gained independence in 1975. 18,165,476; 297,731 sq. mi. (771,123 sq. km). Cap.: Maputo. 2. a seaport on an… … Universalium
