WordValenoun
collateral
an asset pledged as security for repayment of a loan
In more detail
1. (noun) property or assets that a borrower offers to a lender as a guarantee that a loan will be repaid
2. (adjective) less important or secondary; happening as a side effect
Examples
- 1. The bank asked for collateral, such as a house, before approving the mortgage.
- 2. The storm caused damage to several buildings as a collateral effect of the high winds.
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