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Simple English definitions for legal terms
real security
Read a random definition: Simplified Employee Pension plan
A quick definition of real security:
Real Security: Real security means being safe from harm or danger. It can also mean something that is given as a promise to pay back money that was borrowed. This promise is called collateral. A security can also be a piece of paper that shows ownership in a company or government, or a promise to pay back money with interest. Securities don't have value on their own, but depend on the financial condition of the person or company that issued them.
A more thorough explanation:
Definition: Real security is a type of collateral that is given to guarantee the repayment of a debt. It can also refer to the state of being safe from danger or attack.
For example, when you take out a loan from a bank, you may be required to provide real security in the form of property or other assets. This gives the bank the assurance that they will be repaid if you are unable to make your loan payments.
Real security can also refer to the measures taken to protect people and property from harm. For instance, a building may have security guards, cameras, and alarms to ensure that it is safe from theft or other criminal activity.
Overall, real security is about providing assurance and protection against potential risks and threats.