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"Collateral damage" is a term for any incidental and undesired death, injury or other damage inflicted, especially on civilians, as the result of an activity. Originally coined to describe military operations, [ 1 ] it is now also used in non-military contexts to refer to negative unintended consequences of an action.
Collateral consequences, in this example, are related to the economic concept of externalities. The distinction between direct and collateral consequences is perhaps most important in the area of criminal law and sentencing, where an effort to take the collateral consequences of criminal charges into account when meting out punishment is underway.
Common law recognises collateral contract as an exception to parol evidence rule, meaning that admissible evidence of a collateral contract can be used to exclude the operation of the parol evidence rule. Practically, it is rare to find collateral contract as an exception as it must be strictly proved; and the burden of proof is only eased if ...
Collateral management is the method of granting, verifying, and giving advice on collateral transactions in order to reduce credit risk in unsecured financial transactions. The fundamental idea of collateral management is very simple, that is cash or securities are passed from one counterparty to another as security for a credit exposure. [ 9 ]
Under common law, a liquidated damages clause will not be enforced if the purpose of the term is solely to punish a breach (in this case it is termed penal damages). [23] The clause will be enforceable if it involves a genuine attempt to quantify a loss in advance and is a good faith estimate of economic loss.
Types of business loan collateral. Here’s a look at some common types of collateral used in business loans. Real estate. If your business owns real estate, this can serve as collateral when you ...
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Collateral insurance primarily provides financial safeguards against physical damage to your car. At its core, it typically encompasses collision and comprehensive coverage. Depending on the ...