Collateral Meaning Legal Context & Example Legal Terms Simplified @LawMint
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Collateral Meaning Legal Context & Example Legal Terms Simplified @LawMint
Collateral. In general conversation, collateral often describes unintended secondary consequences, like collateral damage. In law, it refers to an asset pledged to secure a loan. Collateral is an asset that a borrower pledges to a lender to guarantee the repayment of a debt. In secured transactions, it is also broadly referred to as security or ...
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