Secured Transaction

What is Secured Transaction?

A transaction respecting property whereby a loan will be secured to the seller by placing collateral in place which may be possessed by the lender if the buyer defaults on the loan payments. B101+B104n which property is pledged as security in the event payment is not made.

Further Reading

For more detailed information, see our related Contracts terms:

• Warranty for a Particular Purpose
• Long Term Agreement of Sale
• Security Interest
• Section 2-207 of the Uniform Commercial Code
• Lessor and Lessee

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Stephanie Bagnall

Licensed Attorney and Legal Researcher

Stephanie Bagnall is a Georgia-licensed attorney and legal researcher with experience in accessibility law, compliance, employment law, and legal writing. She helps develop and review BarPrepHero's Legal Terms content for clarity, accuracy, and usefulness to bar exam students.

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