Final answer:
A buyer not paying for a property in full is an example of noncompliance with the purchase agreement or loan terms, where the property itself often serves as collateral for a mortgage.
Step-by-step explanation:
When a buyer does not pay for a property in full, this situation could be an example of imperfect information, where one or both parties are uncertain about the transaction's details. However, in the context of paying for a property, the term that typically applies is noncompliance with the terms of the sales contract or mortgage agreement.
A buyer that does not pay as agreed may have utilized the property as collateral for a loan, and in case of default, the lender has the right to seize and sell the property to recoup the outstanding debt.