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Chattel Mortgage
A loan arrangement in which an item of movable personal property acts as collateral for the loan.
Conditional Sales Contract
An agreement where the buyer takes possession of an item but its formal title and ownership remain with the seller until all terms of the contract are fulfilled.
Purchase Money Securities Interest
A legal claim that allows lenders to have a security interest in an item that was purchased with the funds they provided.
Security
Measures or mechanisms put in place to protect against theft, espionage, or other threats to safety and privacy.
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