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Choose from the Terms Listed and Match Them with Their

question 43

Multiple Choice

Choose from the terms listed and match them with their most correct description. You may use the same answer more than once.
-Chemicals that reduce the number of microorganisms in body tissue or on skin


Definitions:

Perfected Interest

A legal claim or lien that has been formally acknowledged or registered, typically securing priority over others in the same asset or property.

Purchase-Money Security Interest

A legal claim or lien on an item of property that secures payment of the debt used to purchase the property.

Security Agreement

A legal contract that outlines the terms under which personal property is used as collateral for a loan, securing the repayment to the lender.

Financing Statement

A financing statement is a document filed by a secured party to give public notice of their interest in the personal property of a debtor, used to perfect a security interest under the Uniform Commercial Code.

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