Examlex
All of the following are bases EXCEPT
Unperfected Security Interests
A claim or lien on a debtor's property that has not met the legal requirements for enforceability against other creditors or in bankruptcy.
Secured Parties
Creditors that hold an interest in a debtor's collateral as security for the repayment of a loan or obligation.
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.
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