Secured Debt - Law Dictionary Search Results
security
see also due diligence asset-backed security : a security (as a bond) that represents ownership in or is secured by a pool of assets (as loans or receivables) that have been securitized bearer security : a security … has the right to convert into a share or obligation of another class or series (as common stock) debt security : a security (as a bond) serving as evidence of the indebtedness of the issuer (as a
Pawn
Pawn, is a security, whereby contract, a deposit of goods is made as security for a debt. The right to property vests
Property
(i) immovable property, (ii) movable property, (iii) any debt or any right to receive payment of money, whether secured or unsecured, (iv) receivable, whether existing or future; (v) intangible assets, being know-how, patent, copyright, trade mark, licence,
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lien
Latin ligamen, from ligare to bind] : a charge or encumbrance upon property for the satisfaction of a debt or other duty that is created by agreement of the parties or esp. by operation of law ;specif … duty that is created by agreement of the parties or esp. by operation of law ;specif : a security interest created esp. by a mortgage assessment lien : a lien that is on property benefiting from an
Financial asset
means debt or receivables and includes-- (i) a claim to any debt or receivables or part thereof, whether secured or unsecured; or (ii) any debt or receivables secured by, mortgage of, or charge on, immovable property; or
interest
is deductible from adjusted gross income under federal tax law when it is paid on debt that is secured by one's residence and that was incurred for the acquisition, construction, improvement, or refinancing of the residence or
pledge
pledge 1 : a delivery of esp. personal property as security for a debt or other obligation ;broadly : the perfection of a security interest in collateral through possession
bond
an interest-bearing document giving evidence of a debt issued by a government body or corporation that is sometimes secured by a lien on property and is often designed to take care of a particular financial need see
Extinguishment
enfranchisement of customary suits and services. See COPYHOLD. (5) Extinguishment of debt. A creditor, by accepting a higher security than he had before, extinguishes the first debt. And when judgment is given for a debt, it supersedes
Guarantee
of a specified amount. [Constitution of India, Art. 366(13)] Guarantee, is in collateral engagement to answer for the debt, default, or miscarriage of another person, a promise to another as debtor to secure the payment of a … The assurance that a contract or legal act will be duly carried out; Something given or existing as security, such as to fulfill a further engagement or a condition subsequent, Black's Law Dictionary, 7th Edn., p. 711.
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