Secured Transaction
/ˈsɪkjʊrd trænsˈækʃən/
Definitions
- (n.) A legally enforceable agreement in which a debtor grants a secured party a security interest in collateral to secure payment or performance of an obligation.
The lender perfected its security interest in the borrower’s equipment under the secured transaction framework.
Forms
- secured transactions
Related terms
See also
Commentary
Primarily governed by Article 9 of the Uniform Commercial Code in the U.S., secured transactions create priority rights in collateral, crucial for credit and financing arrangements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.