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Rae's Mortgage Payment Check Is Received a Day Late by Big

Question 47

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Rae's mortgage payment check is received a day late by Big Bank.Big Bank refuses the check and accelerates the mortgage debt.Rae is unable to pay this demand,and Big Bank brings action to foreclose the mortgage.Discuss what defenses,if any,Rae has to the foreclosure action.

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Before invoking the acceleration clause,...

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