Examlex
During the Cold War era,despite its commitment to freedom,the United States
Automatically Perfected
A legal status of a security interest in which it becomes enforceable against third parties without any further action required by the interest holder.
Possession
Possession refers to the state of having in one's control or ownership of property or goods, legally or factually.
Perfecting
The process of making a security interest or right legally enforceable against third parties, usually by filing a public notice.
Letter-of-credit Rights
Rights to payment under a letter of credit, which is a document from a bank guaranteeing that a seller will receive payment if certain conditions are met.
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