Open End Mortgage

Open-End Mortgage Definition – Closed-End vs Open End-Credit

What Is an Open-End Mortgage? An open-end mortgage allows individuals to borrow additional money on the same loan at a later date without having to take out new financing or credit.  It remains open and it permits the lender to make advances on the loan that are secured by the […]

Base Rate Neglect

Base Rate Neglect – Definition – Causes – Examples

What is Base Rate Neglect? Base rate neglect refers to a tendency to rely more on specific information than actual probability and statistics when making judgments. Base rate neglect is an error in reasoning.  Too little weight is placed on the base rate possibility or actual probability of an event […]

Combat Pay

Combat Pay Guide – Meaning – Tax Benefits – Where it Applies

What Is Combat Pay? Combat pay or imminent danger pay is a bonus to military personnel in addition to their regular military salary when they are deployed to a combat zone. It is a tax-exempt monthly stipend.  The bonus is paid to active members of the U.S. armed services when […]

Spillover Effect

Spillover Effect: Definition – Overview – Types – Example

What Is the Spillover Effect? The spillover effect in economics refers to the effect on a country’s economy from unrelated events happening in another country. The effect refers to the impact that seemingly unrelated events in one nation can have on the economies of other nations. There are positive spillover […]

Littoral Rights

Littoral Rights – What are Littoral Rights vs Riparian Rights?

What are Littoral Rights? Littoral rights refer to the legal use and enjoyment of the shoreline for land that borders a pooled body of water like a pond, lake, or sea. Littoral land refers to land that borders a pooled body of water, such as a lake, ocean, or sea.  […]

traunch

Traunch: What is Traunch – Definition – Explanation – Example

What Is a Traunch? A Traunch is one portion in a series of allotments or payments.  Usually, for a specific purpose with measured objectives required for future payments A traunch is one of a series of payments or allotments scheduled to be paid out over a specified period.  Future payments […]