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Financing Statement
A document filed by a creditor to indicate a security interest in a debtor's assets, used primarily in secured transactions.
Security Agreement
A formal document granting a creditor a security interest in an identified asset or property, used as collateral for a loan.
Conflicting Security Interests
A situation where multiple parties claim a security interest in the same collateral, potentially leading to disputes over priority and rights.
Unperfected
A term used in law to describe a security interest or claim that has not been formally established or completed according to legal requirements.
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