security interest

A property interest created by agreement or by operation of law to secure performance of an obligation (esp. repayment of a debt).

• Although the UCC limits the creation of a security interest to personal property, the Bankruptcy Code defines the term to mean “a lien created by an agreement.” 11 USCA § 101(51). [Cases: Secured Transactions 2, 11. C.J.S. Secured Transactions §§ 3, 7, 9–11, 22, 27.]

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词条贡献者

法律翻译David，毕业于美国顶尖的高级翻译学院，专注翻译各类与电子证据开示与文件保全有关的法律文件。