A chattel mortgage is a loan agreement where personal property is used as collateral to secure the payment of a debt or fulfillment of an obligation.
Commercial law, also known as business law or mercantile law, is the body of law that governs the rights and obligations of persons in their commercial dealings with one another, including trade, sales, business operations, and the regulatory framework influencing these activities.
A unit considered by trade or usage to be a whole that cannot be divided without materially impairing its value, character, or use. Relevant in contractual dealings when partial rejection of goods may constitute acceptance of the entire unit.
