Asked by Tristen Peterson on Jun 19, 2024
Verified
Generally,purchases of farm property are financed through the use of land contracts.
Farm Property
is categorically land and tangible assets used in farming and agricultural operations.
Land Contracts
Legal agreements for the purchase of land in which the buyer pays the seller in installments while the seller retains the title until the full purchase price is paid.
- Discern between credit transactions that are secured and those that are unsecured.
Verified Answer
SN
Sandeep NagreJun 23, 2024
Final Answer :
True
Explanation :
Purchases of farm property are commonly financed through the use of land contracts.
Learning Objectives
- Discern between credit transactions that are secured and those that are unsecured.