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You have just been hired as the administrative assistant to the vice president of finance at XYZ Corporation. As part of your job, you will be issued a user ID and password to use the company's network. In addition, you will receive a company email account. You decide to research the law concerning privacy in relation to email correspondence. Why would XYZ Corporation be concerned with the correspondence of its employees?
Unsecured Creditor
A lender or creditor that extends credit without obtaining specific collateral, ranking below secured creditors in the event of a bankruptcy.
Perfect
To bring something to a state of completeness or flawlessness; in legal and financial contexts, to finalize or make an action legally binding.
Collateral
An asset offered to secure a loan or other credit, which can be seized by the lender if the loan is not repaid.
Automatic-Perfection Period
A specified timeframe following the attachment of a security interest during which the interest is considered perfected without filing.
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