PURCHASE MONEY AGREEMENT Definition

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PURCHASE MONEY AGREEMENT is an agreement under which a person pledges the property or item bought as security.

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WRITE-DOWN is the reduction in the book value of an asset.

JUNK BOND is a bond with a speculative credit rating of BB or lower. Such bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poors and Moodys Investor Services, provide the rating systems for companies credit. See HIGH YIELD JUNK.

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