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Long-term debt is sometimes called:
Conditional Sale Agreement
A conditional sale agreement is a contract in which the sale of a good or property is contingent upon certain conditions being met, often related to the buyer making payments over time.
Good Title
Legal documentation proving ownership of property without any liens or claims against it.
Registration
The act of recording information, such as ownership of property or a vehicle, in an official public registry or database.
Security Interest
A legal right or claim on assets granted to creditors to secure loan repayments, typically collateralized by the asset itself.
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