Please Define the Following Key Terms

question 35

Short Answer

Please define the following key terms.
-James Hargreaves' spinning jenny

---

Definitions:

Chattel Paper

A writing that indicates both a monetary obligation and a security interest in specific goods.

Monetary Obligation

A legal requirement to pay a certain amount of money, arising from contractual agreements, fines, or other legal instruments.

Security Interest

A legal claim or right granted over assets as security for the repayment of a debt or performance of some obligation.

Personal Property

Any form of property that is movable and not fixed permanently to one location, as opposed to real property or real estate.