Asked by
Yangyang Ramos
on Nov 21, 2024
Verified
The property that is subject to a security interest is called vested.
Security Interest
is a legal claim on collateral that has been pledged, usually to obtain a loan, that gives a creditor the right to repossession if the debtor defaults.
Vested
A legal term indicating that an individual has an absolute right to an asset, benefit, or property, which cannot be taken away without consent.
- Master the basics of secured transactions and the pivotal importance of a security agreement.
Verified Answer
ZV
Learning Objectives
- Master the basics of secured transactions and the pivotal importance of a security agreement.