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Question
Creditors have a legal claim to receive the amount owed and may enforce repayment terms or take legal action if the debt is not repaid as agreed.
Options
True
False
MCQ
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Solution
True
Explanation:
Creditors are parties owed money and hold a legal claim to repayment; they may enforce agreed repayment terms, demand security or take legal action (such as suing or enforcing collateral) if the debtor fails to pay.
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