Examlex
What is a value-added tax? Where is this type of tax in wide usage? Why do you suppose this form of taxation has NOT been widely accepted in the United States?
Automatic-Perfection Period
A specified timeframe following the attachment of a security interest during which the interest is considered perfected without filing.
Perfected
In legal and financial contexts, refers to having completed all necessary legal steps to enforce rights regarding a security interest against third parties.
Proceeds
The total amount of money or assets derived from a transaction, such as the sale of goods, property, or a business activity.
Collateral
An asset pledged as security for the repayment of a loan, forfeitable in the event of a default.
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