Examlex
You and your friends decide to order a pizza.As you are ordering from the same place you have ordered from many times before,you do NOT have to look up the number.This example demonstrates ___.
Collateral
Assets pledged by a borrower to secure a loan or credit, which can be seized by the lender if the borrower defaults.
Proceeds
The total amount of money or assets that result from a particular transaction or event.
Consideration
Something of value that is given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.
Chattel Paper
A document or electronic record that evidences both a monetary obligation and a security interest in specific goods or a lease of specific goods.
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