Examlex
__________ is moderately related to attachment security in diverse cultures and SES groups.
Chattel Paper
A document or electronic record indicating both a monetary obligation and a security interest in or a lease of specific goods.
Monetary Obligation
A required payment of money owed by one party to another, typically defined by the terms of a contract or agreement.
Security Interest
A legal claim or lien on collateral or property, given by the borrower to the lender, to secure repayment of a loan.
Purchase-Money Security Interest
A legal claim that allows a lender to repossess or foreclose on property financed through debt if the borrower defaults, specifically relating to the item purchased.
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