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Collateral security

   Also found in: Legal 0.07 sec.
security for the performance of covenants, or the payment of money, besides the principal security.

See also: Collateral



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DEAR SIR, - We notice that your account to-day stands 119,000 pounds overdrawn, against which we hold as collateral security shares in the Bekwando Land Company to the value of 150,000 pounds.
A Millionaire of Yesterday by Oppenheim, E. Phillips View in context
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