MCQOPTIONS
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| 1. |
Which of the following statements is not true about the dragnet clause? |
| A. | It is one specifically phrased to subsume all debts of past or future origins. |
| B. | It operates as a convenience and accommodation to the borrowers as it makes available additional funds without executing additional security documents. |
| C. | It is also known as the blanket mortgage clause |
| D. | It is different from a continuing mortgage clause. |
| Answer» E. | |