All About Self-Control. Self-control separates us from our ancient ancestors and the rest of the animal kingdom, thanks to our large prefrontal cortex. It is the ability to subdue our impulses in order to achieve longer-term goals.
A secured debt is money borrowed that is guaranteed (or secured) by the borrowerâs funds or assets and held by the lender in an interest-bearing account. More On Secured Debt Definition
received. Also called a ânote.â Secured Promissory Note: A note in which the borrowerâs promise to pay a certain amount is backed up by certain specified property (called âcollateralâ). If the borrower does not repay, the lender can take the collateral. A lender is more protected under a secured note than under an unsecured note. It has the certainty that if money isnât available, it can at least get something of value without going to court. Security Agreement: An agreement that supports a secured promissory note. It describes the collateral and the lenderâs rights if the borrower defaults on the note.