accessory contract

Definition of "accessory contract"
  1. A type of agreement designed to ensure the fulfillment of a separate, primary obligation
How to use "accessory contract" in a sentence
  1. If the principal debtor fails to meet their obligations, the accessory contract can be enforced.
  2. In a typical loan, a mortgage often serves as an accessory contract to the main lending agreement.
  3. The accessory contract was drawn up to back the performance of the key contractual duty.

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