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Alannah Owns a Small Bookstore That Also Serves as an Art

question 64

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Alannah owns a small bookstore that also serves as an art gallery for her artwork and that of some of her friends.While this business may never make Alannah wealthy, she admits that it has been her dream since she was an art student in university.Alannah appears to be motivated by


Definitions:

Default

The failure to meet the legal obligations of a loan, typically by not making the required payments.

Re-Perfect

The act of renewing or restoring a security interest or claim in property to its original status or priority, generally after it has been lapsed or compromised.

Security Interest

A legal claim or lien on collateral that has been pledged, usually to secure a loan or obligation.

Financing Statement

A document filed to give public notice that a lender has a security interest in a debtor's asset, used in securing financing.

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