Collateral Agreement - Law Dictionary Search Results

puts an end to a state of things which, but for its happening, would have continued. Dependent or collateral conditions depend upon their mutual fulfilment as in a contract for sale of land where, unless otherwise agreed, … by the parties, either expressly or by necessary implication arising our of the construction of the document or agreement, or they may be implied bylaw according to the nature of the transaction. A peculiarity of conditions precedent

insecurity clause

a party who deems himself or herself insecure to require immediate payment or performance or the giving of collateral … insecurity clause : a clause in an agreement (as a security agreement) allowing a party who deems himself or herself insecure to require immediate payment or

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representation

: a statement or account made to influence opinion or action compare warranty b : an incidental or collateral statement of fact on the faith of which a contract is entered into [the contract of sale contains … action compare warranty b : an incidental or collateral statement of fact on the faith of which a contract is entered into [the contract of sale contains a by the purchaser "U.S. Code"] ;specif : a statement

Surety and guarantor

both answerable for debt, default, or miscarriage of another but liability of guarantor is, strictly speaking, secondary, and collateral, while that of surety is original, primary and direct. In case of suretyship there is but one contract; … and direct. In case of suretyship there is but one contract; and surety is bound by the same agreement which binds his principal, while in case of guaranty there are two contracts and guarantor is bound by

bottomry

bodem bottom, hull, ship] : a contract under which the owner of a ship pledges the ship as collateral for a loan to finance a journey [money lent on for…equipping the vessel "Louisiana Civil Code"] compare respondentia … bottomry [alteration of earlier bottomary, modification of Dutch bodemerij, from bodem bottom, hull, ship] : a contract under which the owner of a ship pledges the ship as collateral for a loan to finance a

credit enhancement

credit enhancement a method used by a lender to reduce default of a loan by requiring collateral, mortgage insurance, or other agreements. Source: U.S. Department of Housing and Urban Development … method used by a lender to reduce default of a loan by requiring collateral, mortgage insurance, or other agreements. Source: U.S. Department of Housing and Urban Development

deficiency

agreement and the amount the creditor is able to recover upon default of the debtor by selling the collateral

Equity of redemption

of redemption after the mortgagor has made default in payment must not be confounded with a subsidiary or collateral right in terms of the contract, which is a different thing altogether; see Cummins v. Fletcher, (1880) 14 … according to the date of registration under the L.C. Act, 1925, or failing such registration or subject to avoidance as against purchasers for value if unregistered, according to the date of notice to the trustee or trustees

reaffirmation agreement

Matched in: Term reaffirmation agreement

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