Collateral Security
Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914
Bouvier's Law Dictionary and Concise Encyclopedia
A separate obligation attached to another contract to guaranty its performance. The transfer of property or of other contracts. to insure the performance of a principal engagement.
See Lochrane v. Solomon, 38 Ga. 292; Mervin v. Sherman, 9 la. 331.
The property or securities thus conveyed are also called collateral securities; 1 Pow. Mortg. 393; 2 id.
666, n. 871; 3 id. 944, 1001; Munn v. Mc Donald, 10 Watts (Pa.) 270.
See Pledge; Chattel Mortgage. er liability, and including a promise to pay, made by a third person, having immediate respect to and founded upon such debt or liability, without any new consideration moving to him.
Elder v. Warfield, 7 Har. & J. (Md.) 391.