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What is a secured transaction?
A business deal, generally a lower of money, plus a "security interest" in personalty (not realty): if the borrower doesn't repay the loan,The lender can grab the asset and sell it to create value to pay off the borrower's debt. UCC article 9
What is inventory?
Goods held by a business for sale or lease and any raw or consumable materials
What is equipment?
Catch-all category; any tangible thing owned by a business that does not belong in another category
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