collateral

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collateral

(kəlăt`ərəl), something of value given or pledged as security for payment of a loan. Collateral consists usually of financial instruments, such as stocks, bonds, and negotiable paper, rather than physical goods, although the latter may also be accepted as such. In case of default, the creditor may sell the collateral and apply the money thus acquired to payment of the debt, charging the debtor with any deficiency or crediting him with any surplus. The borrower may usually substitute other collateral for that held by the lender if it is acceptable to the latter. Such a privilege is particularly useful to borrowers who buy and sell securities. Merchandise collateral—such as negotiable warehouse receipts, bills of lading, and trust receipts—is also used, as is personal collateral, including deeds, mortgages, leases, and other rights in real estate. Other collateral may include bills of sale of movable goods, such as crops, machinery, furniture, and livestock, and savings-bank passbooks.

collateral

[kə′lad·ə·rəl]
(anatomy)
A side branch of a blood vessel or nerve.

collateral

1. a person, animal, or plant descended from the same ancestor as another but through a different line
2. descended from a common ancestor but through different lines
References in periodicals archive ?
91) Furthermore, police and court records are usually public documents available upon request, (92) which can collaterally affect individuals in terms of public housing, medical attention, immigration proceedings, and employment, among other areas.
Those who went down with the ship, however, are the beneficiaries of Mallon's empathy: LaRue, the accepting stoic; Woods, the collaterally damaged loyalist; and Hunt, the good soldier, punished beyond all proportion.
This should include the tenant's right to collaterally assign the tenant's interest in any subleases for the improvements (including subrents and security deposits) and the tenant's interests in any condemnation awards and insurance proceeds.
invalidity could be asserted by a later defendant to collaterally estop the patentee.
It collaterally provides parent education and promotes male involvement in childcare through the educational process.
Whatever happens in the Indian Act collaterally has an impact on the Metis," said Doucette.
Norris was collaterally estopped from denying the civil fraud penalties for that year and the statute of limitation for assessment for that year remained open.
The fundamental problem of complexity must be brought back under control in order to restore balance and scale to the length of hearings in all courts and also, collaterally, to help restore the confidence of funders and the public.
Many White teachers insist on promoting only English at the exclusion of foreign languages--which collaterally excludes foreign cultures--in the classroom.
And he once beat Eric Bristow MBE in a charity match down the pub, which, collaterally speaking, makes me one of the greatest darts players the world has ever seen, the superior of Jocky Wilson and, in chivalric terms, the equal of John Francome and Brough Scott (and thereby both the greatest jockey and horserace writer of the year), the superior of John Lennon (which makes me better than both an egg man and a walrus) and only the marginal inferior of Sir Bruce Forsyth.
He also added that Social Welfare Department should mobilize the finances collaterally for setting up the child protection system in the Province right after the enactment of the bill.
Peter owns the policy and collaterally assigns back to ProMedco the sum of the loaned funds.