Examlex
Instructions: Please define the following key terms.Show Who? What? Where? When? Why Important?
-Council of Nicaea
Consideration
Something of value exchanged between parties to form a binding contract.
Assignment
The transfer of rights or responsibilities from one party to another, typically in a contractual context.
Security Interest
A legal claim or lien on property as collateral for the repayment of a debt, securing an interest in the property for the creditor.
UCC Article 9
A provision of the Uniform Commercial Code dealing with secured transactions, including the assignment of security interests in personal property.
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