UNLIMITED LIABILITY Definition

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UNLIMITED LIABILITY is full liability for the debt and other obligations of a legal entity. The general partners of a partnership have unlimited liability.

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FACTOR is the proportion of the outstanding principal balance of a mortgage or asset-backed security to its original principal balance expressed as a decimal.

YANKEE CD is a Certificate of Deposit issued in the United States through the branch of a foreign bank, but denomi­nated in U.S. dollars.

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