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Control
The power or authority to manage, direct, or influence something or someone.
Possession
The condition or reality of being the owner or holder of an item, in either a physical or legal capacity.
Collateral
An asset that a borrower offers a lender to secure a loan. If the borrower fails to repay the loan, the lender may seize the collateral.
Oral Agreement
A verbal contract in which the terms have been agreed upon through spoken communication, as opposed to written, but is still legally binding in some cases.
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