Maryland Code > COMMERCIAL LAW > Title 21 – The Maryland Uniform Electronic Transactions Act
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Terms Used In Maryland Code > COMMERCIAL LAW > Title 21 - The Maryland Uniform Electronic Transactions Act
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lawsuit: A legal action started by a plaintiff against a defendant based on a complaint that the defendant failed to perform a legal duty, resulting in harm to the plaintiff.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC