Simple English definitions for legal terms
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Term: hypothecary
Definition: Hypothecary means something that involves hypothecation. Hypothecation is when you give something as security for a loan. So, hypothecary is used to describe things that are related to this process of giving security for a loan.
Definition: Hypothecary refers to something that involves hypothecation, which is the act of pledging property as security for a debt.
Examples:
These examples illustrate how hypothecary relates to the concept of hypothecation, which is a legal arrangement where a borrower pledges collateral to a lender in exchange for a loan. In both cases, the lender has a hypothecary interest in the property or assets that are pledged as security.