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If you take a piece of white bread and chew it slowly for a long period of time, the flavor will become very sweet. This is due to the starch molecules in the bread being digested into smaller sugars that trigger a sweet sensation. Which substance is responsible for this breakdown?
Collateral
An asset offered by a borrower to secure a loan or other credit, which the lender can seize if the loan is not repaid.
Future Advances
Money or other value provided to a debtor by a creditor subsequent to the time a security interest in the debtor’s collateral is taken by that creditor.
Financing Statement
A legal document filed under the Uniform Commercial Code (UCC) that secures a creditor's interest in the debtor's collateral, making the security interest public record.
Implied Notice
A legal concept that suggests an individual should have known a fact due to circumstances or the fact it was obvious, even if not formally notified.
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