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Case 7-2
Tom started the process of selecting a new system for the firm and he is weighing all of the various issues that need to be considered and the resources he has at his disposal as he makes this important decision.
-Tom has two candidates for the new system. Which one of the following is a strategy he can pursue for making the final selection from among the two candidates?
Secured Parties
Creditors that hold an interest in a debtor's collateral as security for the repayment of a loan or obligation.
Collateral
Collateral that a borrower offers to a lender to secure a loan or credit, which the lender can take possession of if the borrower fails to meet the repayment terms.
Perfection
The process or action of making something completely free from faults or as close to it as possible.
Secured Party
An individual or institution that holds an interest in a secured asset or collateral to secure repayment of a loan or other credit extension.
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