Security
Ballentine's Law Dictionary · James A. Ballentine · 1916
Ballentine's Law Dictionary
A right over property by virtue of which the enforcement of a liability or promise is facilitated.
See 78 Iowa, 575, 6 L. R. A. 92, 43 N. W. 536.
As applied to persons, means the obligation to stand for the sum absolutely unless discharged by the obligor’s negligence after notice.
See 16 Pa. St. 9, 55 Am. Dec. 479.