Examlex
Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-Tax [avoidance | evasion] focuses on reducing taxes in ways that are legal and compatible with the intent of Congress.
Financing Statement
A financing statement is a document filed by a secured party to give public notice of their interest in the personal property of a debtor, used to perfect a security interest under the Uniform Commercial Code.
Repossession
The act of a creditor or lessor taking back goods or property from the debtor or lessee, usually due to failure to meet the terms of an agreement.
Default
Failure to fulfill a legal obligation, especially the failure to pay back a loan on time or to meet the terms of a contract.
Collateral
Property or assets pledged as security for a loan, which can be seized by the lender if the loan is not repaid.
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