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"My Computer Doesn't Like Me-It Keeps Eating My Pictures," Says

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"My computer doesn't like me-it keeps eating my pictures," says 3-year-old Kimberly.This is an example of:


Definitions:

Collateral

Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower fails to repay.

Perfected Interest

A legal claim or lien that has been formally established to secure priority over other claims concerning the same asset or property.

Repossession

The process by which a creditor takes back property from the borrower, due to failure to make required payments.

Security Interest

A legal claim or right granted in an asset as collateral to ensure the fulfilment of an obligation, typically repayment of a loan.

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