Harry chambers buyers hugh and betty flint find their dream home. at closing, harry and the flints learned how antagonistic the relationship between the seller and his broker had become. the seller, who attended the closing with his attorney, declared that his broker "did little to market this property. i should have made $100,000 more." then he turned to his attorney and said, "i want you to do everything you can to make sure he does not get a dollar in commission." if the owner refuses to pay commission to his broker, what will happen to the other broker's commission?

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Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan