Examlex
Discuss some of the procedures to fire a federal bureaucrat.
Enforceable Security Interest
A legal claim or lien on collateral that gives a creditor the right to take possession of the property if the debtor defaults on obligations.
Continuation Statement
A legal document filed to extend the duration of a UCC financing statement, maintaining the priority of the secured interest in the collateral.
Financing Statement
A document filed to give public notice of a security interest in personal property, used to perfect a lender's interest in the property as collateral for a loan.
Default
Failure to fulfill a financial obligation or agreement, especially failure to make payments on a loan.
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