Discuss the Differences Between Biological and Symbolic Death

question 13

Essay

Discuss the differences between biological and symbolic death.

---

Definitions:

Attachment

The point at which a creditor becomes the secured party that has a security interest in the collateral.

Secured Party

A lender or creditor who has an interest, typically a lien, in the collateral offered by the debtor in a secured transaction.

Collateral

Assets that a borrower offers to a lender to secure a loan, which the lender may seize in the event of loan default.

Intangibles

Assets that lack physical form but have value, such as intellectual property or goodwill.