The __________ Says That When One Party Does Something for Another

question 24

Short Answer

The __________ says that when one party does something for another, an expectation is
created that the other will pay them back.

---

Definitions:

Financing Statement

A document filed to give public notice that a lender has a security interest in a borrower's personal property.

Effective

In force or operational; commonly refers to the date on which a law, regulation, or agreement is applied or becomes operational.

Secured

Pertaining to a loan or obligation that is backed by collateral to reduce the risk of lending.

Security Interest

A legal claim or liens on property as collateral for the payment of a debt or performance of some other obligation.