Michael misses a mortgage payment and receives a letter from the bank advising him that he owes $155,000 plus interest and costs. The bank has most likely
A) invoked the acceleration clause in the mortgage contract.
B) misrepresented Michaels position.
C) breached the mortgage contract.
D) made a mistake.
E) invoked an exemption clause in the mortgage contract.
Correct Answer:
Verified
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