Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
purchase-money security interest.
See SECURITY INTEREST.
security interest.
A property interest created by agreement or by operation of law to secure performance of an obligation (esp. repayment of a debt). ( Although the UCC limits the creation of a security interest to personal property, the Bankruptcy Code defines the term to mean "a lien created by an agreement." 11 USCA ยง 101(51).