1. Purpose of this Act. Labour Relations Act (No. 66 of 1995). as amended by the. Amendment-Afrikaans Labour Relations Act 1998, Amendment-Labour Relations Act 1996, Amendment-Labour Relations Act 1998, Amendment-Labour Relations Act 2000, and Amendment-Labour Relations Act 2002.abour Relations Act (No. 66 of 1995). as amended by the. Amendment-Afrikaans Labour Relations Act 1998, Amendment-Labour Relations Act 1996, Amendment-Labour Relations Act 1998, Amendment-Labour Relations Act 2000, and Amendment-Labour Relations Act 2002.
An unsecured debt is an obligation or debt that does not have specific property (like your house or car) serving as collateral for payment of the debt. If you fail to make payment on an unsecured debt, the creditor cannot take any of your property without first suing you and getting a court judgment. (There are a few exceptions to this rule.). A secured debt, on the other hand, has a piece of property serving as collateral for the debt.
RELATED TERMS. 1  Unsecured Loan A loan that is issued and supported only by the borrower's creditworthiness, ... 2  Unsecured Debt A loan not backed by an underlying asset. 3  Collateral Property or other assets that a borrower offers a lender to secure 4  ... Secured Note A type of loan that is backed by the borrower's assets.