repossession

repossession, n. The act or an instance of retaking property; esp., a seller’s retaking of goods sold on credit when the buyer has failed to pay for them. — Often shortened to repo. Cf. FORECLOSURE; RESCUE(3). [Cases: Secured Transactions 228. C.J.S. Secured Transactions §§ 151, 153–160, 180.] — repossess, vb.

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词条贡献者

双语律师Lorna，国际知名商学院金融专业，擅长翻译涉及金融创新和金融科技领域的法律文件。