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Chan has been getting to school early for a meeting with his quiz bowl team as they are getting ready to compete. In order to keep up with his schoolwork, he has been on his laptop later and later in the evening. Even when he is finished, it seems to take his body more time to become sleepy even though he is tired throughout much of the day. This didn't happen when he was in elementary school, even when he went to before school practices. Chan is most likely experiencing the ______.
Consideration
A fundamental concept in contract law that involves something of value exchanged between parties, serving as the reason or motive for entering into a contract.
Security Interest
is a legal claim on collateral that has been pledged, usually to obtain a loan, that gives a creditor the right to repossession if the debtor defaults.
Vested
A legal term indicating that an individual has an absolute right to an asset, benefit, or property, which cannot be taken away without consent.
Perfection
In legal terms, the process of securing a secured interest in an asset, ensuring priority over other claims in case of debtor default.
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