Security
Finance, Capital Markets, Enforcement and Compliance
Security is a personal or real assurance given to secure the performance of a debt or the compensation of a loss that may arise in the future. In personal security such as suretyship and guarantee, a third party assumes responsibility for payment; in real security such as pledge and mortgage, a specific asset is tied to the receivable as security. In litigation, security may also be required for an interim injunction, precautionary attachment or litigation costs. The concept has no single general definition in the law.
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