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Nico is a passenger in a car driven by Owen,whose reckless driving causes an accident,injuring himself.Nico,uninjured,accompanies Owen to Parkside Hospital in an ambulance.The ambulance is hit by a car driven by Quin,and Nico is injured.Nico files a suit against Owen,alleging negligence.The element most likely to be a question for the court to decide is
Collateral
Property or assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the agreed terms.
Consumer Goods
Products and commodities that are bought and used by individuals and households for personal or household consumption.
Personal Purposes
Activities or objectives pursued for an individual’s own private, personal, or household reasons, as opposed to professional or business reasons.
Perfected Security Interest
A perfected security interest is a legal state where a creditor has completed all necessary steps to establish and maintain priority over other creditors concerning a debtor's asset.
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