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."

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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.
Collins Dictionary of Law © W.J. Stewart, 2006

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Li, "A security risk analysis model for information systems: causal relationships of risk factors and vulnerability propagation analysis," Information Sciences, vol.
Financial institutions must manage a constantly changing set of privacy and information security risks. New personal mobile devices, social media/social engineering, customer/agent/employee nonpublic personal information (NPI) managed by third parties and hactivism are among the most challenging.
1) Absence of senior management commitment & support: Management's buy-in and support is a critical driver for the success of any IT project, including information security risk assessments.
In the following section the security risk models used by three international agencies will be examined with the aim of further delineating the limitations therein.
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Wireless devices pose security risks that are different from those of desktop computers and wired telephones.
"I believe internal audit should be a catalyst in educating management about IT security risks."
has retained Good Harbor Security Risk Management, LLC, which offers advisory services in the areas of cyber and physical security risk management, to help develop advanced security services for its customers in Mexico, the company said.
These Guidelines aim to ensure that payment service providers have in place appropriate security measures to mitigate operational and security risks. These should include the establishment of an effective operational and security risk management framework; processes that detect, prevent and monitor potential security breaches and threats; risk assessment procedures; regular testing; and processes to raise awareness to Payment Service Users on security risks and risk-mitigating actions.
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Security Risk Assessment: Managing Physical and Operational Security
Information security risk assessment toolkit; practical assessments through data collection and data analysis.

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