Examlex
Which of the following is true about myelin?
Secured Party
An entity or individual that holds an interest in a debtor's property as security for a debt or obligation, ensuring priority claim over the property if the debt is not repaid.
Proceeds
The money or benefits received from a transaction, especially after the sale of assets or completion of a financial operation.
Secured Perfected Creditor
A lender that has a legal right to take possession of the collateral if the borrower fails to fulfill the repayment obligations.
Collateral
Property or assets pledged as security for the repayment of a loan, subject to seizure on default.
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