Examlex
MATCHING
Match each description with the item below.
-John Locke
Perfected Security Interest
A legal state where a creditor has taken the necessary steps to establish and maintain a priority claim on a debtor's collateral in case of default.
General Unsecured Creditors
Creditors who have claims against a debtor without specific collateral backing those claims, ranking below secured creditors in priority for repayment.
Bankruptcy Estate
All legal and equitable interests of the debtor in property at the time of the bankruptcy filing.
Wages
Payments made to employees for their labor or services, typically calculated on an hourly, daily, or piecework basis.
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