| 单词 | recognized market |
| 释义 | recognized market n: a market in which a secured party sells collateral upon a debtor's default, which does not rely on competitive bidding or haggling, and in which prices are stated publicly and presumed to be commercially reasonable ◇ Under the Uniform Commercial Code, a creditor is not required to notify a debtor of the sale of collateral in a recognized market. |
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