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<strong>Reaffirmation</strong> – A borrower' s acknowledgment of a loan repayment obligation, including all principal, interest, and other costs, in a legally binding manner.
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asset specificity (GO)<br />The unique character of a durable asset, e.g. a machine, a skilled worker or a production site, which means that it has a low return in other uses. For many specific assets the cost of employing them is in the nature of a SUNK COST.<br /><em>See also:</em> economic rent; transfer earnings
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