Archives: Glossary

A right to be paid money owed for goods sold, services provided or credit extended. Many receivables are “accounts” under UCC Article 9.

A signature on an instrument made to negotiate it, restrict payment or incur indorser’s liability.

Pooling loans or receivables and selling interests in the pool to investors, who are paid from the pooled assets.

Under UCC Article 9, the person obligated on an account or other right to payment.

A contract governing the transfer of loans into a securitization trust and the duties of the trustee and servicer.

A transfer of rights, such as the right to receive payment under a contract or note, from one party (the assignor) to another (the assignee).

A legal claim against property as security for a debt.

A lawsuit to establish ownership of real property against other claims.

A recorded notice that a lawsuit affecting title to real property is pending.

The body of law, historically administered by courts of chancery, that provides remedies such as injunctions and specific performance.