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prenda industrial abierta (Ecuador)

English translation: open-ended security agreement, open-ended chattel mortgage

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:prenda abierta
English translation:open-ended security agreement, open-ended chattel mortgage
Entered by: Anthony Rivas
Options:
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04:21 Aug 14, 2002
Spanish to English translations [PRO]
Bus/Financial - Law (general) / legal
Spanish term or phrase: prenda industrial abierta (Ecuador)
No context. It's a list. Also, prenda comercial ordinaria, juicio de remate de prendas

No guessing, PLEASE... we'll be wasting both of our times.
Anthony Rivas
United States
Local time: 08:14
Open-ended chattel mortgage
Explanation:
I have seen this term used in American promissory notes, and I think it is quite clear:

Open-ended = abierto, ilimitado
Chattel mortgage = prenda industrial

Good luck!
Selected response from:

María Eugenia Wachtendorff
Chile
Local time: 09:14
Grading comment
Good! This is a possible right answer; however, "chattel mortgages" have been replaced in most states (US) with "security agreements." This is for your information. Your answer is correct and deserving of the highest number of points, given your patience. Thanks for your help!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +6open industrial pledgePaul Slocomb
5 -1Open-ended chattel mortgage
María Eugenia Wachtendorff


  

Answers


5 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +6
open industrial pledge


Explanation:
ordinary commercial pledge; pledge foreclosure auction

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Note added at 2002-08-14 12:42:12 (GMT)
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Two comments regarding the suggestion of \"open-ended chattel mortgage\".

First, \"chattel mortgage\", while certainly understood, is a bit anachronistic, at least in most US settings. A chattel is personalty, not realty. A mortgage in common parlance relates to realty, not personalty. The usage stems back to old English common law practice. A chattel mortgage today is more commonly called a pledge, or even more generically under the UCC, just a security interest.

Second, \"chattel mortgage\" is too broad for \"prenda industrial\". The latter would not cover my placement of my wife\'s diamond ring with a pawn broker. The former would. In any event I\'d be dead.

Paul Slocomb
Local time: 07:14
Specializes in field
Native speaker of: English
Grading comment
Nice guess. It's great to waste other people's time, isn't i

Peer comments on this answer (and responses from the answerer)
agree  Lila del Cerro
1 hr

agree  Monika Martens
4 hrs

agree  Herman Vilella: also called "earnest" in UK
5 hrs

agree  Ana Cicconi
6 hrs

agree  MikeGarcia
11 hrs

agree  Rafa Lombardino
11 hrs
Login to enter a peer comment (or grade)
The asker has declined this answer
Comment: Nice guess. It's great to waste other people's time, isn't i

7 hrs   confidence: Answerer confidence 5/5 peer agreement (net): -1
Open-ended chattel mortgage


Explanation:
I have seen this term used in American promissory notes, and I think it is quite clear:

Open-ended = abierto, ilimitado
Chattel mortgage = prenda industrial

Good luck!

María Eugenia Wachtendorff
Chile
Local time: 09:14
Native speaker of: Native in SpanishSpanish
PRO pts in category: 336
Grading comment
Good! This is a possible right answer; however, "chattel mortgages" have been replaced in most states (US) with "security agreements." This is for your information. Your answer is correct and deserving of the highest number of points, given your patience. Thanks for your help!

Peer comments on this answer (and responses from the answerer)
disagree  Paul Slocomb: See note to my proposed answer above.
47 mins
  -> Thanks, Paul. I always say you never stop learning!
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