Complete

question 73

Short Answer

Complete:

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Definitions:

Guaranteed

Promised with certainty or underwritten with a promise of payment or performance.

Defaulted

Refers to the failure to meet a legal obligation or agreement, especially failing to make required payments on a loan.

Personal Property Security Act

Legislation that governs the creation and registration of security interests in personal property, aside from real estate, to secure payment or performance of an obligation.

Legislation

Laws enacted by Parliament or legislatures; also known as statutes.