Examlex
____ are short boards fastened to the side of a ceiling joist and centered on the joint.
Default
Failure to fulfill a legal obligation, especially the failure to pay back a loan on time or to meet the terms of a contract.
Collateral
Property or assets pledged as security for a loan, which can be seized by the lender if the loan is not repaid.
Defaulted On The Loan
A situation in which a borrower fails to make the agreed-upon payments on a loan within the specified time, leading to a breach of the loan agreement.
Security Interest
A legal claim or right granted to a creditor over the debtor's assets as collateral for a loan.
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