Examlex
Match each statement with the correct item below:
-ball-and-socket joint
Security Interest Transactions
A legal and financial arrangement where collateral is provided to secure a debt or obligation.
Agreement
A mutual understanding or arrangement between two or more parties, often formalized by a written document.
Perfecting Security Interest
The legal process by which a secured party establishes a priority claim on a debtor's collateral in case of default.
Attachment
A legal procedure by which a court of law, at the request of a creditor, designates specific property owned by the debtor to be transferred to the creditor or sold for benefit of the creditor.
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