LSDefine

Simple English definitions for legal terms

collateral loan

Read a random definition: IMCO

A quick definition of collateral loan:

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.

A more thorough explanation:

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.

collateral line | collateral matter

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

JumpySubsequentDolphin

23:30

@babycat: a straight man just told me he’s obsessed w clairo and beabadoobee’s music. curious to hear your thoughts

babycat

23:31

i would not let that slide. too many men out here want to be soft boys

babycat

23:31

good times create weak men, weak men create hard times, and so on

JumpySubsequentDolphin

23:32

i feel like I’ve never been more certain that a man’s a whore in my life

JumpySubsequentDolphin

23:33

what do you MEAN you’re obsessed with clairo and beabadoobee. who are you trying to impress

babycat

23:37

men will say ugh i wish i had a girl to go to the clairo concert with me. whole time they’re just whores

Skydog1969

23:38

my buddy went to under grad with her

[] texaslawhopefully

23:39

ok what's wrong with liking beabadoobee though 😭

Skydog1969

23:39

^

Eggan

23:57

straight man who likes beabadoobee has a 60% chance of being full of red flags and that percentage is too high to risk it

Eggan

23:57

i unfortunately have the falling for straight man by accident because i thought he was bi because he likes clairo and beabadoobee disorder

JumpySubsequentDolphin

23:58

Eggan thank you for understanding. ily.

[] texaslawhopefully

23:59

@Eggan: oh goodness

ExplodingEffoc

0:04

Glue song Clairo and Beabadoobee best song ever

[] texaslawhopefully

0:06

I think a night to remember is better but yea they're both very good

Dkk

0:08

I would call Arendt nuts but correct sometimes.

Dkk

0:09

No idea who these artists are

llama

0:23

https://youtube.com/shorts/adQCzRMlDZA?si=fkvlxzRb-pVrLoWh

Dkk

0:30

Hmmm idk if that story helped

renard99

0:43

Beabadoobee is such a stupid artist name

renard99

0:43

Yeah bro I listen to poo poo pee pee

lavendergiraffe

0:48

who up refreshing they status ;)

Dkk

0:51

I'm watching space ghost coast to coast

Dantheman00797

1:41

how the homies hangin

Dkk

1:44

Hangin well!

Dkk

1:44

On the nightshift

idkdude

2:37

this chat is hilarious

Dkk

2:37

@idkdude: Thanks. We take pride in that.

milktoast

5:39

Working grinding , feeling racist today

milktoast

5:39

Get after it

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