Collateral contract — A collateral contract is a contract where the consideration is the entry into another contract, and co exists side by side with the main contract. For example, a collateral contract is formed when one party pays the other party a certain sum for… … Wikipedia
financing statement — n: a statement that contains information about a security interest in collateral used to secure a debt and that is filed to provide notice to other creditors of the security interest see also perfect b uniform commercial code in the important… … Law dictionary
Continuation Statement — An amendment that is attached to a borrower s financing statement which extends the lender s lien on the borrower s collateral past the original expiration date. The actual continuation statement itself must be filed with the secretary of state… … Investment dictionary
Termination Statement — A statement that releases a lender s claim on property or collateral of a borrower when a loan is repaid. Termination statements also terminate the financing statement created by the loan. These statements officially clear the borrower s name of… … Investment dictionary
UCC-1 Statement — One of the standard mortgage documents listed in the Uniform Commercial Code. The UCC 1 Statement lists and describes any personal property that is provided by the borrower as collateral for the loan. This document must be filed with either the… … Investment dictionary
Financing Statement — A written document outlining the financing agreement between the lender and the borrower. It pertains specifically to the collateral taken from the borrower. It is filed under the Uniform Commercial Code and its primary use is to lay claim on the … Investment dictionary
UCC-1 financing statement — USA UCC 1, Also known as a UCC 1 financing statement and a financing statement. A record or records composed of an initial financing statement and any filed record relating to the initial financing statement (UCC § 102(39)). In accordance with… … Law dictionary
financing statement — Form prescribed under the Personal Property Security Act setting out essential information such as the name of the debtor and the collateral; the secured party must file the financing statement at the Personal Property Registry to perfect a… … Glossary of Bankruptcy
UCC Financing Statement — A standardized form that a lender files with a state agency (usually a Secretary of State) to secure an interest in personal property that the borrower used as collateral for a loan. Also called a UCC 1 Form. Category: Business, LLCs &… … Law dictionary
exculpatory statement or evidence — A statement or other evidence which tends to justify, excuse or clear the defendant from alleged fault or guilt. State v. Cobb, 2 Ariz.App. 71, 406 P.2d 421, 423. Declarations against declarant s interest which indicate that defendant is not… … Black's law dictionary
exculpatory statement or evidence — A statement or other evidence which tends to justify, excuse or clear the defendant from alleged fault or guilt. State v. Cobb, 2 Ariz.App. 71, 406 P.2d 421, 423. Declarations against declarant s interest which indicate that defendant is not… … Black's law dictionary