chattel paper

paper

noun | pa·per

  1. a : a formal written composition or document often intended for publication the Federalist papers

    b : a document containing a statement of legal status, identity, authority, or ownership —often used in pl. whether applying to one or more items naturalization papers this policy, including the endorsements and the attached papers —Mutual of Omaha

    c : a document (as an answer, motion, or brief) prepared in furtherance of a legal action any paper after the complaint that is required to be served…must be filed within a reasonable time after service —Federal Rules of Civil Procedure Rule 5(d)

  1. : a document providing evidence of a financial obligation; especially : commercial paper in this entry : commercial paper in this entry

    — accommodation paper
    : commercial paper used by one party to accommodate another party

    — bearer paper
    : commercial paper that is freely negotiable by the holder and is made payable to bearer — compare order paper in this entry

    — chattel paper
    : paper that sets out both a buyer's obligation to repay and a lender's or a seller's security interest in the goods bought or that contains the provisions of a lease of the goods

    — commercial paper
    : a usually negotiable instrument (as a note, draft, or certificate of deposit) arising out of a commercial transaction; specifically : any of the instruments constituting the obligations of a business organization that are sold as investments

    — order paper
    : commercial paper that is payable to order — compare bearer paper in this entry