Examlex
When will the price specified in a buy and sell agreement control the value used for estate tax purposes?
Security Interest
A legal claim or lien on collateral that has been offered to secure a loan, which grants the lender a right to repossession if the borrower defaults.
Perfection
In finance and law, the process of securing a claim or interest in an asset, typically making it enforceable against third parties.
Legal Steps
Defined actions and procedures prescribed by law that must be undertaken to establish legal rights or resolve legal disputes.
Collateral
An asset offered to secure a loan or obligation, which can be seized by the lender if the borrower fails to repay.
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