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

双语律师李明，国际知名法学院法律专业，擅长翻译各类与政府监管相关的法律文件。