MLchartDataset catalogue

Floating lien

Term · Law · MLC-T-LAW-002155

A security interest in a changing pool of assets, such as inventory or accounts receivable, that are constantly being acquired and sold by the debtor. This type of lien allows a creditor to maintain a security interest in the collateral even as its specific components change over time. It is commonly used in commercial financing under the Uniform Commercial Code.

Table 1. Record
IdentifierMLC-T-LAW-002155
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-002155",
  "term": "Floating lien",
  "field": "Law",
  "definition": "A security interest in a changing pool of assets, such as inventory or accounts receivable, that are constantly being acquired and sold by the debtor. This type of lien allows a creditor to maintain a security interest in the collateral even as its specific components change over time. It is commonly used in commercial financing under the Uniform Commercial Code.",
  "url": "https://mlchart.com/terminology/law/floating-lien/"
}

Record 2,063 of 5,441 in Law terminology (MLC-0107). Request the full dataset.