collateral note

Definition of "collateral note"
  1. A type of note that is particularly secured by a collateral mortgage, and is promised to secure an obligation typically evidenced by a hand note
How to use "collateral note" in a sentence
  1. The bank requested a collateral note to secure the loan they were about to issue.
  2. The debtor provided a collateral note as a means of securing their payment obligation.
  3. As part of the deal structure, a collateral note was arranged to act as a backup for the debt agreement.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z