Collateral Agreement - Law Dictionary Search Results
collateral agreement
Matched in: Term collateral agreement
Collateral
Matched in: Term Collateral
Warranty
facts are present, to prevent the performance or fulfilment of a warranty in its strict sense of a collateral agreement from being at the same time a condition either of a transfer of property or of the entire … waive his right to repudiate upon condition broken and merely claim damages or compensation for breach of the collateral agreement: see Sale of Goods Act, 1893, s. 11; and the right to repudiate may also be lost if
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Representation
misrepresentation is innocent. If made at the time of sale of personal chattels, 'it is a warranty' (or collateral contract), 'provided it appears to have been so intended', Pasley v. Freeman (1789) 3 TR 634, and in … by words or by conduct -- made to induce some one to act esp. to enter into a contract, Black's Law Dictionary, 7th Edn., p. 1303. Any indication by words, letters, signs or conduct by one person
interest
an easement does not. purchase money security interest 1 : the security interest held by the seller of collateral to secure payment of all or part of the price 2 : the security interest of a person … party to a breached contract in being compensated for detriments suffered (as expenses incurred) in reliance on the agreement compare expectation interest in this entry reversionary interest : an interest in property (as a possibility of reverter
Guarantee
profits of an undertaking falling short of a specified amount. [Constitution of India, Art. 366(13)] Guarantee, is in collateral engagement to answer for the debt, default, or miscarriage of another person, a promise to another as debtor … (401) HL, per Lord Diplock. As in the case of any other contract, a valid guarantee requires an agreement made between the parties intending to create legal relations and having the capacity to contract. Supported by consideration,
pledge
property as security for a debt or other obligation ;broadly : the perfection of a security interest in collateral through possession of the collateral by a creditor or other promisee 2 a : property and esp. personal … esp. upon delivery ;broadly : a security interest in collateral compare chattel mortgage at mortgage b : a contract under which the delivery of property (as personal property) as security takes place 3 a : the state
Consideration
for the promise. [Indian Contract Act, 1872 (9 of 1872), s. 2(d)] Consideration does not mean incidental or collateral examination of any matter by the Income-tax Officer in the process of assessment. There must be something in … is presumed. Valuable consideration may be described as the very life and soul of a simple contractor parol agreement. Valuable consideration may be:-- (a) Benefit to the promisor or loss or injury sustained by the promisee. It
Sale of Goods Act, 1893
Ireland 'means an agreement with reference to goods which are the subject of a contract for sale, but collateral to the main purpose of such contract, the breach of which gives rise to a claim for damages,
Misrepresentation
has entered into a contractor warranty and not on the ground merely of mis-statement. Such representations may be collateral or not part of the principal contract and upon letting premises may not be required to be put … or to the prejudice of any one claiming under him; (3) causing, however innocently, a party to an agreement, to make a mistake as to the substance of the thing which is the subject of the agreement.
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