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To categorize people's level of moral development using Kohlberg's approach, a psychologist would
After-Acquired Property
Property acquired by a debtor after the security arrangement is made.
Security Agreement
A legal document that secures an interest in collateral owned by the debtor for the benefit of a creditor in the event of default.
Debtor
An individual or entity that owes money to another party, often a lender or creditor.
Perfection
In the context of secured transactions, perfection is the legal process by which a secured creditor establishes its priority interest in the debtor's collateral over other claimants.
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