Examlex
Tsunamis in the open ocean can travel as fast as jet airplanes.
Debenture
A type of long-term debt instrument that is not secured by physical assets or collateral.
Unsecured Creditor
A creditor who has extended credit without securing collateral and thus stands at a higher risk in case of the debtor's bankruptcy.
Secured Bond
A type of bond backed by collateral, providing the bondholder with a claim on specific assets if the issuer defaults.
Enforceable
A term describing a contract or legal obligation that is legally binding and can be upheld in court.
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