Definition
1. Property that has been pledged by a lien or mortgage, thus guaranteeing that the creditor will be paid if the debtor defaults. Security makes the promise to pay more than a personal obligation. 2. A stock or bond that signifies that the borrower (the Corporation) owes a specified amount of money to the stock or bond holder. 3. Measures to protect people against attack, robbery, danger, etcetera.
Context: Used in Contract Law, Property Law, Corporate Law