Collateral Promise - Law Dictionary Search Results
Home Dictionary Name: collateral promisecollateral promise
collateral promise see promise ...
promise
promise : a declaration or manifestation esp. in a contract of an intention to act or refrain from acting in a specified way that gives the party to whom it is made a right to expect its fulfillment aleatory promise : a promise (as to compensate an insured individual for future loss) whose fulfillment is dependent on a fortuitous or uncertain event collateral promise : a promise usually to pay the debt of another that is ancillary to an original promise, is not made for the benefit of the party making it, and must be in writing to be enforceable false promise : a promise that is made with no intention of carrying it out and esp. with intent to deceive or defraud gratuitous promise : a promise that is made without consideration and is usually unenforceable called also naked promise compare nudum pactum NOTE: A gratuitous promise may be enforceable under promissory estoppel. illusory promise : a purported promise that does not actually bind the party making it to a particular p...
Collateral
Collateral, indirect, sideways, that which hangs by the side; applied in several ways, thus:--collateral assurance, that which is made over and above the deed itself; collateral consanguinity or kindred, which descend from the same stock or ancestor as the lineal relation, but do not descend one from the other, as the issue of two sons; collateral issue, where a criminal convict pleads any matter allowed by law, in bar of execution, as pregnancy, pardon, an act of grace, or diversity of person, viz., that he or she is not the same that was attained, etc., the issue upon which when taken is tried by a jury instanter; collateral security, where a deed is made of other property, besides that already mortgaged, for the better safety of the mortgagee (see Re Athill, (1880) 16 Ch D 211) or a bill of exchange given, or pledge deposited to secure a pre-existing debt; and collateral contract, where a contract by word of mouth co-exists [see e.g., Morgan v. Griffiths, (1871) LR 6 Ex 70; De Lassa...
Marriage, Promise of
Marriage, Promise of, need not be in writing, although an 'agreement in consideration of marriage' must be, by s. 4 of the Statute of Frauds. So it was decided, overruling an earlier decision to the contrary, about 200 years ago, and the question does not appear to have been raised since 1717. In early times the spiritual courts enforced specific performance of the promise, and this jurisdiction was not formally abolished until the reign of George II., by 26 Geo. 2, c. 33. In an action for the breach of the promise, the parties were excepted amongst others) from the general abolition of admissibility of parties as witnesses under the Evidence Act,1851, but this exception was removed by the Evidence Further Amendment Act, 1869, under which, however, the plaintiff may not 'recover a verdict' unless his or her testimony be corroborated by some other material evidence in support of such promise. The mere non-answering of a letter is not, however, sufficient corroboration, Wiedman v. Walpol...
collateral
collateral 1 a : accompanying as a secondary fact, activity, or agency but subordinate to a main consideration b : not directly relevant or material [a evidentiary matter] [a issue] 2 : belonging to the same ancestral stock but not in a direct line of descent compare lineal 3 a : of, relating to, or being collateral used as a security (as for payment of a debt) b : secured by collateral [a loan] col·lat·er·al·ly adj n 1 : a collateral relative 2 : property pledged by a borrower to protect the interests of the lender in the event of the borrower's default ;specif under Article 9 of the Uniform Commercial Code : property subject to a security interest ...
Promise
Promise, an engagement for the performance or non-performance of some particular thing, which may be made either by deed, or without deed, when it is said to be by parol; 'promise' is usually applied when the engagement is by parol only, for a promise by deed is technically called a covenant. See CONTRACT.A simple promise, i.e., a promise not under seal, made voluntarily and without a legal consideration, is not binding either at law or inequity; see Re Whitaker, (1889) 42 Ch D 119; Tweddle v. Atkinson, (1861) 1 B&S 393.Means an undertaking by one man with another for the performance or non-performance of some particular thing, A Verbal Covenant, Shratya Begum v. Hamid Ali Khan, 1947 All WR CC 268....
collateralize
collateralize -ized -iz·ing 1 : to make (a loan) secure with collateral 2 : to use (as securities) for collateral ...
cross-collateralize
cross-collateralize -ized -iz·ing : to secure (a preexisting debt) with cross-collateral cross-collateralization n ...
Collateral or incidental issue
Collateral or incidental issue, a collateral or incidental issue is one that is ancillary to a direct and substantive issue; the former is an auxiliary issue and the latter the principal issue. The expression 'collaterally or incidentally' in issue implies that there is another matter which is 'directly and substantially' in issue, Sajjadanashin Sayed Md. B.E Edr v. Musa Dadabhai Ummer, (2000) 3 SCC 350: AIR 2000 SC 1238 (1243). [Civil Procedure Code 1908, s. 11]...
Collateral warrants
Collateral warrants, abolished by the (English) Fines and Recoveries Act, 1833 (3 & 4 Wm. 4, c. 74), s. 14, was where the heir's title to the land neither was, nor could have been, derived from the warranting ancestor, as where a younger brother released to his father's disseisor with warranty, this was collateral to the elder brother. The whole doctrine of collateral warranty is repugnant to justice; and even its technical grounds are so obscure that the ablest legal writers are not agreed upon the subject, Wright's Tenures, 168; Gilbert's Tenures, 143....
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