Examlex
To calculate the double-declining-balance rate,you would divide 2 by the number of years of useful life.
Security Interest
A legal claim on collateral that gives a lender the right to property if a loan is not repaid.
Legal Sense
Pertains to understanding, awareness, or interpretation within the context of the law.
After-Acquired Property
Property of the debtor that is obtained after a security interest in the debtor’s property has been created.
Security Agreement
A contract that grants a lender a security interest in an asset, which serves as collateral for a loan.
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