Collateral Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Collateral, written in plain English, along with examples of how it is used.
What is Collateral?
Indirectly related or existing side by side. 1)Property offered as a guarantee to obtain a loan,payment of debts or any form of security can be taken away if the payment of money is not made on time. 2)It also refers to certain legal issues that are indirectly related to a case which have no direct releavance but should be taken into consideartin while making a decision.