Page 168 - Microsoft Word - NEW 2017 Standard Program.docx

Glossary

Acceleration Clause: In a contract or Security Agreement, this gives the secured party
authority to demand the remaining balance to be paid immediately.

Acknowledgement Letter: An instrument sent from recovery agent to lender
acknowledging receipt of a repossession assignment and under what conditions the
assignment will be handled.

Additional Terms and Agreement: Found on the reverse side of a Security Agreement,
contains language allowing for self-help repossession.

Aggravated Assault: Defined the same as Assault but with the additional conditions of
threat: 1) with a deadly weapon but without the intent to kill; or, 2) with the intent to
commit a felony.

Aggravated Battery: Generally defined as: 1) intentionally or knowingly causing great
bodily harm, permanent disability, or permanent disfigurement; 2) using a deadly weapon.

Americans with Disabilities Act (ADA): Signed into law on July 26, 1990, the ADA is a
civil rights law that prohibits discrimination against individuals with disabilities in all
areas of public life, including jobs.

Assault: An intentional, unlawful threat by word or act to do violence to the person of
another, coupled with an apparent ability to do so, and in doing so, creating a well-
founded fear in such other person that violence is imminent.

Bankruptcy: Inability to pay one’s debts. A filing of bankruptcy by a debtor requires
that all attempts to collect money or repossess collateral must cease.

Battery: Actually and intentionally touching or striking another person against the will of
the other person, or intentionally causing bodily harm to an individual.

Breach of the Peace: In the repossession process, its primary intent is to deter violence,
or the threat of violence.

Breaking or Injuring Fences: Willfully and maliciously breaking down, damaging,
cutting or in any way creating or causing to be created an opening, gap interruption, or
break in any fence.

Bribery: The definition of Bribery includes but is not limited to: A price, reward, gift, or
favor bestowed or promised in an attempt to influence the actions of a person in a position
of trust. Further definition and explanation can be found in Section 3.

Burglary: The breaking and entering of the dwelling of another in the night time, with
the intent to commit a felony therein. Modern statutory definitions usually require no
breaking and encompass entry at all times and into all kinds of structures.

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