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Describe the Social Security system and explain how it is funded.Explain the potential effects of increased life expectancy and low birthrates on the social service state.
Collateral
Collateral that a borrower offers to a lender to secure a loan or credit, which the lender can take possession of if the borrower fails to meet the repayment terms.
Perfection
The process or action of making something completely free from faults or as close to it as possible.
Secured Party
An individual or institution that holds an interest in a secured asset or collateral to secure repayment of a loan or other credit extension.
Collateral
Assets pledged by a borrower to secure a loan or other credit, and subject to seizure on default.
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