Business, Legal & Accounting Glossary
A Uniform Commercial Code covenant that addresses collateralized debt. The Article determines what types of collateral, including paper securities such as promissory notes, accounts receivables, etc., are allowed to secure a loan. Service providers have the right to place liens on such collateral in the event of unpaid services rendered.
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This glossary post was last updated: 13th November, 2021 | 0 Views.