Identify/define and Explain the Significance of the Following: Diggers

question 15

Essay

Identify/define and explain the significance of the following: Diggers.

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Definitions:

Collateral

Property or assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to agreed terms.

Public Filing

The process of submitting financial documents and other important corporate information to a regulatory authority for public disclosure.

Financing Statement

A document filed to give public notice of a secured transaction, typically in relation to personal property, establishing a priority interest in the property for the creditor.

Constructive Notice

Notice presumed by law that an individual should have known, often through the public recording of documents, even if they were unaware.