Collateral assurance

Of non-legal obligations, collateral assurance is a bond made over and beyond the deed itself, for the performance of an agreement, or covenant, made between two individuals; so called, for being external, and without the nature and essence of a covenant. A collateral assurance is separate but subservient to the principal contract. It usually allows for damages to be paid when the assurance is broken without allowing the principal agreement to be voided. Warranties are examples of this sort of assurance.  This article incorporates text from a publication now in the public domain: Chambers, Ephraim, ed (1728). "article name needed". Cyclopædia, or an Universal Dictionary of Arts and Sciences (first ed.). James and John Knapton, et al.article+name+needed&rft.atitle=[[Cyclopædia,+or+an+Universal+Dictionary+of+Arts+and+Sciences]]&rft.date=1728&rft.edition=first&rft.pub=James+and+John+Knapton,+et+al&rfr_id=info:sid/en.wikibooks.org:Finance:Collateral_assurance">

This article does not cite any external source. HandWiki requires at least one external source. See citing external sources. Please help improve this article. Unsourced material may be removed in future.
Find sources: "Collateral assurance" – news · newspapers · books · scholar · JSTOR (2021) (Learn how and when to remove this template message)

|

0.00

(0 votes)

Original source: https://en.wikipedia.org/wiki/Collateral assurance. Read more

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Finance:Collateral_assurance&oldid=136037"