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10 Cards in this Set
- Front
- Back
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106) Lease/Leasing |
A written contract specifying the terms for the use of an asset and the legal responsibilities of both parties to the agreement, such as a property owner and tenant |
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107) Liability |
An actual ot potential financial obligation |
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108) life expactancy |
A statistical measure of the average length of life from birth to death |
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109) lifestyle |
The way people choose to live their lives, based on values they have chosen |
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110) Liquidity |
The quality of an asset that permits it to be converted quickly into cash without loss of value. |
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111) Living will |
A document that contains the signer's desires for specific medical treatment in case the person is unable to make medical decisions; also known as a health care directive. |
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112) loan |
a contractual promise between a borrower and a lender; the borrower agrees to repay a sum of money in exchange for the lender giving another sum of money |
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113) Loss Mitigation |
A situation where the lender will help the borrower when they are in danger of default to avoid foreclosure |
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115) Medicare |
A federal government program, financed by deductions from wages, that pays for certain health care expenses for older citizens. The Social Security Administration manages the program |
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114) Medicaid |
A program financed by state and federal government tax revenues, to pay specified health care costs care for those who cannot afford them. |
