Examlex
Briefly explain how a circuit split arises with an example.
Secured Interest
A legal claim or lien on collateral that gives a creditor the right to take property if a debtor fails to fulfill their obligations.
Personal Property
Personal property refers to movable property that is not fixed to one location and can include items like vehicles, furniture, and electronics.
Secures Payment
Refers to any method or measure taken to ensure that a debt or financial obligation will be paid, such as collateral or a guarantee.
UCC
The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States.
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