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Collateral
Collateral refers to assets that a borrower offers to a lender to secure a loan, which can be seized if the loan is not repaid.
Perfection by Possession
A method of securing interests in personal property by physical possession, thereby prioritizing claims against the property.
Perfection by Filing
A legal process to protect a secured interest in a debtor's property by filing appropriate documents with a governmental office or registry.
Perfection
In legal and financial contexts, it often relates to the process of securing a security interest in collateral, ensuring priority over other claims.
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