Examlex
If a company deposits all its receipts in the bank and pays all its bills by check then the monthly bank statement balance will always agree with the company's record of its checking account balance.
Interest Rate
The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.
UCC
The Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States.
Secured Interests
A legal claim or right a lender has on the borrower's collateral in case they default on the loan.
Priority in Time
A legal principle that grants precedence to rights or claims established earlier in time over those established later.
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