Examlex
Which of the following can explain a contango?
Security Interest
A legal claim or lien on collateral that secures the repayment of a debt or obligation, giving the lender rights in the collateral.
Secured Party
The party that holds the interest in a secured property.
Uniform Commercial Code
A comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across American jurisdictions.
Purchase-Money Security Interest (PMSI)
A security interest formed when a debtor uses borrowed money from the secured party to buy the collateral.
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