Examlex
All of the following statements concerning Precedex are true except:
Security Agreement
A legal document that provides a lender a security interest in a specified asset or property that is pledged as collateral for a loan, in case of borrower default.
Authenticated Record
A document verified as genuine, usually through a process that confirms its origin and integrity.
Collateral
Collateral refers to assets that a borrower offers to a lender as security for a loan, which can be seized if the loan is not repaid according to the terms of the loan agreement.
Security Agreement
A legal document that grants a creditor a security interest in an asset or property as collateral for a loan, typically detailed in personal property.
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