SECURITY AGREEMENT
security agreement. An agreement that creates or provides for an interest in specified real or personal property to guarantee the performance of an obligation. ? It must provide for a security interest, describe the collateral, and be signed by the debtor. The agreement may include other important covenants and warranties. [Cases: Secured Transactions 41¨C51. C.J.S. Secured Transactions ¡ì¡ì 37¨C49.]
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