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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.
A collateral contract is usually a single term contract, made in consideration of the party for whose benefit the contract operates agreeing to enter into the principal or main contract, which sets out additional terms relating to the same subject matter as the main contract. [1] For example, a collateral contract is formed when one party pays ...
In Australia, the definition of liquidated damages applies to the situations where upon the failure of a primary stipulation, imposes a detriment to the first party or a benefit to the second party by a secondary stipulation collateral to the primary stipulation (i.e. it does not have to be a breach). [13]
The collateral source rule, or collateral source doctrine, is an American case law evidentiary rule that prohibits the admission of evidence that the plaintiff or victim has received compensation from some source other than the damages sought against the defendant. The purpose of the rule is to ensure that the wrongful party pays the full cost ...
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 ]
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 ...
Collateral damage, unintended damage caused during a military operation; Fire damage; Foreign object damage, damage to a vehicle or system caused by any foreign substance, debris, or article; Hydrogen damage, metal degradation processes due to interaction with hydrogen; Property damage, damage to public or private property
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 ...