Examlex
Part of the reason Alcatraz was closed was because so many prisoners were successfully escaping from it.
Secured Party
A lender or creditor that has a legal interest in the collateral offered by the debtor to secure a loan or other obligation.
Obligation
An obligation is a legal or moral duty to do or not to do something.
Purchase-Money Security
A legal interest or lien on a piece of property which secures the repayment of the funds used to purchase the property.
Collateral
An asset pledged by a borrower to secure a loan, subject to seizure in the event of default.
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