Examlex
Versions of Ptolemy's maps (from about 100 A.D.)
Security Interest
A creditor’s right to use collateral to recover a debt.
Security Agreement
A written agreement that creates a security interest.
Purchase Money Security Interest (PMSI)
A special type of security interest that allows creditors to obtain priority in a debtor's collateral, provided the credit was used to purchase the collateral.
Perfected
The state of a security interest when the secured party has done everything that the law requires to give the secured party greater rights to the goods than others have.
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