anarrangementin which abanklendsto abusinessso that it canbuyequipmentorgoods, but thebankis thelegalownerof theequipment, etc. and cansellit if thebusinesscannotpayback theloan
Personal property can often be secured with similar kind of device, variously called a chattel mortgage,trustreceipt, or security interest.
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Such financing was called trust receipts, where the merchant would hold the goods in trust for the banks.
From
Wikipedia
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