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3 Cards in this Set
- Front
- Back
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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 |
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What is inventory? |
Goods held by a business for sale or lease and any raw or consumable materials |
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What is equipment? |
Catch-all category; any tangible thing owned by a business that does not belong in another category |
