CHATTEL MORTGAGE CONTRACT Definition

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CHATTEL MORTGAGE CONTRACT is a credit contract used for the purchase of equipment where the purchaser receives title of the equipment upon delivery but the creditor holds a mortgage claim against it.

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PURCHASING POWER is the value of a particular monetary unit in terms of the amount of goods or services that can be purchased with it, i,e, the ability to purchase, generally measured by income.

COST CEILING, in project management, is the sum of the Project Cost Target plus the projects Contingencies cost allowances.

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