Examlex
What is a performance appraisal? How does it influence organizational success? Explain why it poses a particular challenge to managers.
Secured Creditor
A secured creditor is an individual or entity that lends money with the protection of collateral, ensuring prioritized repayment in case of debtor default.
Re-perfect
The action of renewing or maintaining perfection of a security interest or lien to preserve its priority status against other claims.
Security Interest
A legal claim or right granted to a creditor or lender on a debtor's property as a security for a debt.
Perfection by Possession
A legal principle that secures a creditor's interest in a debtor's collateral upon taking possession of it.
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