Examlex
A local bank has determined that the number of companies listed in the area declaring bankruptcy follows an approximately a Poisson distribution with a mean of 2.6 per year.
-Find the probability that no more than one bankruptcy occurs next year.
Perfected Security
A security interest in a collateral that is legally binding and has been properly filed or registered, affording the creditor priority over other claimants.
Fixtures
In real estate, fixtures are items of personal property that are attached or fixed to the land or building in such a way that they become part of the real property.
Perfected
A legal term indicating that an interest or lien on a property has been legally completed and registered, making it enforceable against third parties.
Goods
Tangible personal property, which includes physical items that can be seen, touched, and possessed.
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