collateral obligationglossary / COLLATERAL OBLIGATION collateral obligation. A liability undertaken by a person who becomes bound for another’s debt. — Also termed accessorial obligation. 词条贡献者 法律翻译Howard,在一家顶尖的美国律师事务所担任专职法律翻译,专注翻译各类与信托与财产规划有关的法律文件。