Multiple choice

What is the legal term for the following conditions?

a. An equal reduction of recovery of debts by all creditors when there are not enough funds or assets to pay the full amount. b. The removal of a problem which is against public or private policy or endangers others, including nuisances such as weeds that might catch fire on an otherwise empty lot.

  1. Discount

  2. Abatement

  3. Dividend

  4. Litigation
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B Correct answer
Explanation

Abatement is an equal reduction of recovery of debts by all creditors when there are not enough funds or assets to pay the full amount and the removal of a problem which is against public or private policy or endangers others, including nuisances such as weeds that might catch fire on an otherwise empty lot.

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