secured note
secured note 有担保的本票 指出票人为保证票据获得兑付而以质押或抵押方式提供财产担保的票据。 (→collateral note)
A note backed by a pledge of real or personal property as collateral. — Also termed collateral note.
A note that may be satisfied upon default only by means of the collateral securing the note, not by the debtor’s other assets. Cf. recourse note. [Cases: Bills and Notes 44; Secured Transactions 227, 240. C.J.S. Bills and Notes; Letters of Credit § 11; Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]
A note that may be satisfied upon default by pursuing the debtor’s other assets in addition to the collateral securing the note. Cf. nonrecourse note. [Cases: Secured Transactions 227, 240. C.J.S. Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]
Uniform Commercial Code. A uniform law that governs commercial transactions, including sales of goods, secured transactions, and negotiable instruments. • The Code has been adopted in some form by every state. — Abbr. UCC. [Cases: Bills and Notes 2; Sales 3.1; Secured Transactions 3. C.J.S. Bills and Notes; Letters of Credit§ 4; Sales §§ 3–4;
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nonrecourse, adj. Of or relating to an obligation that can be satisfied only out of the collateral securing the obligation and not out of the debtor’s other assets. [Cases: Bills and Notes 44; Secured Transactions 227, 240. C.J.S. Bills and Notes; Letters of Credit § 11; Secured Transactions §§ 152, 164–166, 168–169, 172, 174–175, 180–183.]