security

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Security

Protection; assurance; indemnification.

The term security is usually applied to a deposit, lien, or mortgage voluntarily given by a debtor to a creditor to guarantee payment of a debt. Security furnishes the creditor with a resource to be sold or possessed in case of the debtor's failure to meet his or her financial obligation. In addition, a person who becomes a surety for another is sometimes referred to as a "security."

security

1 in connection with the granting of a loan facility, the obtaining by the lender of rights additional to those deriving from the borrower to pay the interest due and to repay the principal debt in accordance with the provisions of the loan agreement; it confers a right to look to some identified fund or property, or to some other person, for payment. Those forms of security conferring recourse to particular funds or property are MORTGAGE, STANDARD SECURITY, CHARGE, PLEDGE, HYPOTHEC and LIEN. The forms of security permitting a creditor to look to a third party for satisfaction are GUARANTEE and INDEMNITY.
2 right to security, see HUMAN RIGHTS.

SECURITY. That which renders a matter sure; an instrument which renders certain the performance of a contract. The term is also sometimes applied to designate a person who becomes the surety for another, or who engages himself for the performance of another's contract. See 3 Blackf. R. 431.

References in periodicals archive ?
An insurer rated 'BBB' or higher is regarded as having financial security characteristics that outweigh any vulnerabilities, and is highly likely to have the ability to meet financial commitments.
While Vermont ranks highest in overall household financial security outcomes, CFED places Maryland at the top of a separate ranking of states in terms of the policies the center advocates.
A bi-monthly measure, the index is an aggregate of factors comprising financial security, including savings and investments, financial planning, retirement, education and asset protection.
The partnership with Financial Finesse was created in an effort to ensure that every player has the information and tools they need to prepare financially for any potential obstacle and to establish lifelong financial security for themselves and their families.
To understand how income and concerns over financial security may relate to a person's satisfaction with life, Miron-Shatz conducted two separate studies of a representative sample of nearly 1,000 American women of various ages and incomes.
After all, the foundation of financial security is to ensure that clients and families are protected against the risks associated with dying too soon or becoming sick or injured.
No bishop, no financial advisors or trustees should be allowed to act with such a callous disregard for the feelings of people in an obvious quest for financial security.
Very strongly recommended reading, The Accidental Millionaire: Leaping From Chance To Mastery In The Game Of Life by Stephanie Frank provides the non-specialist general reader with an insightful, invaluable, comprehensive grasp of financial security basics from the perspective of a knowledgeable and thoroughly experienced investor.
According to Jessup, Benfield polled its brokers and found that terms and conditions rank high in clients' minds, but slightly lower than cost or pricing, and roughly on a par with the financial security of the reinsurer.
Leading finance and investment professionals from AXA Advisors, as well as our cadre of BE editors, will teach you the best ways to obtain long-term financial security. Specific topics include increasing your net worth through homeownership, planning a secure retirement, and practicing the 10 principles of wealth building with our Black Wealth Initiative.
But while some might be wary of such an arrangement, Roberts reports that her partnership has actually lent an added level of financial security to a sometimes unpredictable business.
Earlier Institute financial-education efforts include: the Disaster Recovery Guide, jointly produced by the AICPA, the AICPA Foundation and NEFF in 2003 and distributed by the American Red Cross to help disaster victims regain financial security; the Women's Financial Health Week public-education campaigns sponsored by the Institute and Money Magazine in 2002 and 2003 that reached an estimated 80 million consumers; the CPA Information Package (iPack), designed to help educators teach basic financial concepts and the AICPA's Start Here, Go Places student recruitment program, which among other things explains money management principles.

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