Examlex
When does a duty arise in nonfeasance cases?
Secured Party
An individual or entity that holds an interest, typically a security interest, in another's property as collateral for a debt.
Relinquish
To voluntarily give up or surrender a claim, right, or possession.
Security Agreement
A legal document that specifies the collateral for a secured loan, establishing the lender's rights to the secured property.
Rights and Duties
The legal entitlements and obligations that are held by individuals and entities under the law.
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