Examlex
Running times in the 100-meter dash have decreased due to
Revised Article 9
An update to the Uniform Commercial Code that deals with secured transactions, outlining the rules regarding the granting of a security interest in personal property.
UCC
An all-encompassing body of laws, known as the Uniform Commercial Code, administers the conduct of commercial transactions throughout the United States.
Secured Transactions
A financial arrangement where the borrower guarantees the repayment of a debt by giving the lender a security interest in certain assets as collateral.
Security Interest
A legal claim or right granted by a debtor to a creditor over the debtor's property, securing the payment of a debt or performance of some other obligation.
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