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LSDefine

Simple English definitions for legal terms

collateralize

Read a random definition: depository

A quick definition of collateralize:

Collateralize means to use something valuable, like a house or car, as a guarantee that you will pay back a loan. For example, if you want to borrow money to buy a house, the bank might ask you to collateralize the loan by using the house as security. This means that if you don't pay back the loan, the bank can take your house to get their money back. Collateralization helps lenders feel more confident about lending money, because they have something valuable to fall back on if you can't pay them back.

A more thorough explanation:

Definition: To use something as collateral to secure a loan or debt.

Example 1: The car was collateralized to secure the loan for the new business.

Example 2: The bank required the borrower to collateralize the loan with their house.

Explanation: Collateralizing means using something valuable, like a car or a house, to secure a loan. This means that if the borrower cannot pay back the loan, the lender can take possession of the collateral to recover their losses. In example 1, the car is used as collateral to secure the loan for the new business. In example 2, the bank requires the borrower to use their house as collateral to ensure that they will be able to recover their losses if the borrower cannot pay back the loan.

collateral issue | collateral limitation

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everyone trying to YM each other but no JM... damn :/
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i'm lying in wait dw
if no gtown today i'm crashing out so bad yall don't even know
i will not be racist or say slurs tho unlike Some people
how bad on a scale of wild- evol bunny
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BulbasaurNoLikeCardio
13:20
Evol bunny said they are dropping out and done with LS, they are too good for it so likely will never see the melt downs again
Dkk
13:20
@SplitterusClitterus: 11:22:24 PST, so in about an hour.
Dkk
13:21
Adios EvolBunny then
yall saw the shit at gtown rn w the pregnant 2l
Dkk
13:22
@HopefullyInLawSchool: Lol
babycat
13:22
we have one local rep who didn’t get reelected bc she went on a podcast and said some crazy shit about jewish people
insane
13:22
@HopefullyInLawSchool: that is so unfair its insane that people have to go through that
theres a student that is literally having a baby and the admin denied her request for a test extension, and told her to come in the day after she gave birth to take the exam w her baby
come in the DAY AFTER SHE GIVES BIRTH
W HER BABY
13:23
saw that, crazy that she cant just hold the fucker in for a day longer
LMFAO
babycat
13:23
gulc going to hell I’m so serious
glovediedthisishismom
13:24
thats definetly horsey on an alt
glovediedthisishismom
13:24
no way any professor did that
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
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