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discount point

amount, discount points are paid to reduce the interest rate on a loan. In an ARM with an initial rate discount, the lender gives up a number of percentage points in interest to give you a lower

director

of their powers. Directors have the power to appoint and dismiss officers, declare and pay dividends on stock, initiate major corporate actions such as mergers or dissolution, and determine other matters affecting the corporation. di·rec·tor·ship n

deductible

[-dək-tə-bi-lə-tē] n n : a clause in an insurance policy that relieves the insurer of responsibility for an initial specified loss of the kind insured against ;also : the amount specified in such a clause compare franchise

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contestant

contestant : one that initiates or participates in a contest

complaint

complaint 1 : the initial pleading that starts a lawsuit and that sets forth the allegations made by the plaintiff against the defendant

commitment

facility is called civil commitment when it is not part of a criminal proceeding. Civil commitment proceedings are initiated by the patient, in the case of voluntary commitment, or by someone (as a family member or government

balloon loan or mortgage

balloon loan or mortgage a mortgage that typically offers low rates for an initial period of time (usually 5, 7, or 10) years; after that time period elapses, the balance is due

attach

: to become operative esp. as a right [the right to counsel es only at or after the initiation of adversary judicial proceedings "United States v. Gouveia, 467 U.S. 180 (1984)"] see also jeopardy at·tach·able adj at·tach·ment

arraignment on the warrant

arraignment on the warrant :initial appearance

action

action [Latin actio legal proceeding, from agere to do, carry out, initiate legal proceedings] 1 a : a judicial proceeding for the enforcement or protection of a right, the redress

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