LOAN COVENANT is a legally enforceable promise or restriction in a mortgage. For example, the borrower may covenant to keep the property in good repair and adequately insured against fire and other casualties. A breach of covenant in a mortgage usually creates a default, defined by the mortgage, and can be the basis for foreclosure.
CASHIERS CHECK; also known as a bank check, official check, tellers check, bank draft or treasurers check; is a check guaranteed by a bank. They are normally treated as cash because most banks clear them instantly.
DEFERRED REVENUE see DEFERRED INCOME.
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