collateral

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Collateral

Related; indirect; not bearing immediately upon an issue. The property pledged or given as a security interest, or a guarantee for payment of a debt, that will be taken or kept by the creditor in case of a default on the original debt.

That which is collateral is not of the essence. Collateral facts are facts that are not independently provable from, and that are not directly relevant to, issues in a Cause of Action. Collateral heirs are those individuals who are not directly related to the deceased through consanguinity. Similarly, collateral ancestors are uncles and aunts, as contrasted with direct ancestors, such as parents and grandparents.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

collateral

1) n. property pledged to secure a loan or debt, usually funds or personal property as distinguished from real property (but technically collateral can include real estate). 2) adj. referring to something that is going on at the same time parallel to the main issue in a lawsuit or controversy which may affect the outcome of the case, such as adoption of a new federal regulation or a criminal trial of one of the parties.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

collateral

1 something that is independent of another but relates to the same subject matter, thus, the phrases collateral agreement or collateral guarantee.
2 of the same family line although not in the direct descent.
Collins Dictionary of Law © W.J. Stewart, 2006

COLLATERAL, collateralis. From latus, a side; that which is sideways, and not direct.

HEIR, COLLATERAL. A collateral heir is one who is not of the direct line of the deceased, but comes from a collateral line; as, a brother, sister, an uncle and aunt, a nephew, niece, or cousin of the deceased.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.