HIGH CREDIT Definition

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HIGH CREDIT is the most a debtor has ever charged with any one creditor.

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SUPPLANT is to take the place of or move into the position of, e.g. the computer supplanted the slide rule.

EXTINGUISHMENT OF DEBT is the debtors satisfaction of the obligation to a creditor, either legally or in-substance. A debt shall be accounted for as having been extinguished in a number of circumstances, including when it has been settled through repayment or replacement by another liability.

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