Examlex
The change that took place in Question 14 was due to:
Commitment
An obligation or pledge to do something in the future, such as a promise made by a person or an institution to undertake certain actions.
Financing Statement
A document filed to give public notice typically of a secured transaction involving personal property, which helps establish the priority of the filer's interest in the property.
Collateral
Assets pledged by a borrower to secure a loan or guarantee repayment, which can be seized in case of default.
Creditor's Name
The name of an individual or entity to whom money is owed or who has provided credit to another party.
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