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During the events of Lexington and Concord,
Collateral
Assets pledged by a borrower to secure a loan or other credit, which can be seized by the lender if the borrower fails to pay.
Purchase-Money Security Interest
A legal claim or lien on property that secures payment of the price or an obligation incurred for the property's purchase.
Consumer Good
A good used or bought for use primarily for personal, family, or household purposes.
Financial Statement
A formal record of the financial activities and position of a business, individual, or other entity, typically detailing income, assets, liabilities, and equity at a specific point in time.
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