Examlex
Identify the following terms.
-"fleets of the desert"
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.
Attaches
In legal parlance, attaches means to legally seize or take control of property, often in the context of securing a debt or executing a court order.