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Business transactions are exchanges of economic consideration between two parties.
Perfect Security Interest
An interest that is legally protected and established in a way that no other claimant can have a higher claim upon the collateral in question.
Purchase Money
Funds that are used specifically for the acquisition of assets, often related to real estate transactions or personal property.
Installments
Payments that are made periodically towards a debt, allowing for the total amount to be paid off over time rather than all at once.
Financing Statement
A document filed by a creditor to give public notice of a security interest in property of the debtor, used in UCC filings.
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