Success in law school is 10% intelligence and 90% persistence.

✨ Enjoy an ad-free experience with LSD+

Legal Definitions - collateral loan

LSDefine

Behind every great lawyer is an even greater paralegal who knows where everything is.

✨ Enjoy an ad-free experience with LSD+

Definition of collateral loan

A collateral loan is a type of secured loan where the borrower pledges an asset as collateral to the lender. This means that if the borrower fails to repay the loan, the lender can seize the asset to recover their losses. Collateral loans are often used to obtain larger loan amounts or lower interest rates.

For example, if a person wants to buy a car but doesn't have enough money, they can take out a collateral loan using the car as collateral. If they fail to repay the loan, the lender can repossess the car to recover their losses.

The only bar I passed this year serves drinks.

✨ Enjoy an ad-free experience with LSD+

Simple Definition

A collateral loan is when you borrow money and give something valuable as a guarantee that you will pay it back. This could be your car, house, or other valuable item. If you don't pay back the loan, the lender can take your collateral as payment. It's important to make sure you can afford to pay back the loan before taking out a collateral loan.
collateral line | collateral matter Read a random term: income-based plan

I feel like I'm in a constant state of 'motion to compel' more sleep.

✨ Enjoy an ad-free experience with LSD+

The law is a jealous mistress, and requires a long and constant courtship.

✨ Enjoy an ad-free experience with LSD+