Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
What does a deficiency judgment mean?
Expert Solution
Step 1
Deficiency judgement refers as if borrower takes money from a lender and he is fails to return back for the amount which is held accountable within the specified time, the lender can obtain deficiency judgement from the court in order to regain its loss amount from the borrower. In other words amount of remaining unpaid held by borrower then lender obtain the judgement against borrower.
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