Examlex
In a prison, _____ are responsible for policing and transporting inmates.
Perfection by Possession
A process in secured transactions where a creditor secures an interest in the collateral by taking physical possession of it, ensuring priority over other creditors.
Perfection by Filing
A legal process involving the filing of documents to protect a secured interest in a debtor's collateral, ensuring priority over claims from other creditors.
Financing Statement
A document filed to give public notice of a security interest in personal property, which is usually part of a secured transaction.
UCC
Stands for Uniform Commercial Code, a comprehensive set of laws governing commercial transactions in the United States.
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