PEAK is the period of maximal use or demand or activity; for example, at peak commute hours, street traffic can be unbelievable. See OFF-PEAK.
LIMITATION, in contracts, is a certain period limited by statute after which actions, suits, or prosecutions cannot be brought in the courts.
PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.
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