secured transaction

secured transaction. A business arrangement by which a buyer or borrower gives collateral to the seller or lender to guarantee payment of an obligation. • Article 9 of the UCC deals with secured transactions. See SECURITY AGREEMENT . [Cases: Secured Transactions

1. C.J.S. Secured Transactions §§ 3, 7–9, 23, 37.]

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词条贡献者

法律翻译Jack，毕业于一所旨在培养高级翻译专业人才的翻译院校，专注翻译各类与重大诉讼案件有关的法律文件。