A person who has been granted the rights to a benefit.

Euphemism that is now a part of our language. It was used by the US military during the second Persian Gulf War from August 2, 1990 through March 3, 1991, […]

an estoppel by judgement where an issue that has been decided cannot be taken to another court by the same litigants and in the same manner.

Such as are outside the controversy , or are not directly connected with the principal matter or issue in dispute. Sum- merour v. Felker, 102 Ga. 254, 29 S. E. […]

A collateral impeachment of a judgment or decree is an attempt made to destroy or evade its effect as an estoppel, by reopening the merits of the cause or by […]

Secondary but worthwhile information essential or made available for the full or proper use of primary information .

A tax levied upon the collateral devolution of property by will or under the intestate law. In re Bittin- ger’s Estate, 129 Pa. &38. 18 Atl. 132; Strode v. Com., […]

Those who descend from one and the same common ancestor, but not from one another

the limitation that gives an interest in property for a set period of time but the right to posses depends upon a related event.

Commercial loan for a collateral asset, and not based on the borrower’s credit worthiness. The asset is the sole source of repayment. Known also as collateral lending.

Legal principle. An entity is not liable for harm or injury caused by the employing the services of an independent contractor if (1). improper execution by the independent contractor performing […]

Promissory note using one or more specific assets promised to back or secure the note.

the right to dispose of property that is given to a person with no interest in the said property. Also called naked power.

The RISK of loss arising from errors in the nature, quantity, pricing, or characteristics of COLLATERAL securing a transaction with CREDIT RISK . Institutions that actively accept and deliver collateral […]

A security given in addition to the direct security, and subordinate to it, intended to guaranty its validity or convertibility or insure its performance ; so that, if the direct […]

Legal principle. Compensation paid by some source to an injured plaintiff cannot be deducted from the damages a defendant has to pay. The source, such as an insurance firm, cannot […]

the rule that allows a claimant to collect damages for medical and hospital care from the defendant even if he has insurance to cover it.

Securities of subsidiary firms typically from holding firm or against its own bonds or other obligations by an investment trust . Short term debt security. Known also as collateral trust […]

Same meaning as collateral trust certificate .

“Collateral” and “original” have become the technical terms whereby COLLATERAL 215 COLLEGE to distinguish promises that are within, and such as are not within, the statute of frauds . Elder […]

The ancient title of masters in chancery.

Pledging collateral identified an asset or property..

Mechanism for converting junk grade bonds into an investment grade asset based securities (ABS). Debt financing . In this process a bank’s portfolio of low-rated bonds, as the underlying collateral […]

Asset backed security (ABS), structured like a collateralized bond obligation (CBO). Instead of its bonds, it is based on a bank’s portfolio of personal loans.

A SECU RITIZATION structure that repackages pools of MORTGAGE BACKED SECURITIES, WHOLE LOANS, or mortgagebacked STRIPs into TRANCHES with specific RISK and return (YIELD) profiles. CMO structures are available in […]