Examlex
Explain language development in young children.
Security Interest
A legal claim or right granted to a creditor over the borrower's assets as a security for the repayment of a loan.
Repossessed Collateral
Assets that have been taken back by the lender from the borrower, usually due to default on a loan.
Security Interest
A security interest is a legal claim or entitlement provided to a lender or creditor over the borrower's assets, serving as collateral for the repayment of a loan or obligation.
Attached
Pertaining to property law and commercial transactions, it refers to the legal process by which a security interest is formally linked to specific assets, making it enforceable against third parties.
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