MLchartDataset catalogue

Secured transactions

Term · Law · MLC-T-LAW-005480

Legal arrangements where a debtor pledges personal property as collateral to a creditor to guarantee a debt or obligation. If the debtor fails to fulfill the obligation, the creditor can seize and sell the collateral to satisfy the debt. These legal frameworks are primarily outlined in Article 9 of the Uniform Commercial Code.

Table 1. Record
IdentifierMLC-T-LAW-005480
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-005480",
  "term": "Secured transactions",
  "field": "Law",
  "definition": "Legal arrangements where a debtor pledges personal property as collateral to a creditor to guarantee a debt or obligation. If the debtor fails to fulfill the obligation, the creditor can seize and sell the collateral to satisfy the debt. These legal frameworks are primarily outlined in Article 9 of the Uniform Commercial Code.",
  "url": "https://mlchart.com/terminology/law/secured-transactions/"
}

Record 4,496 of 5,439 in Law terminology (MLC-0107). Request the full dataset.