cross collateral clause

cross-collateral clause. An installment-contract provision allowing the seller, if the buyer defaults, to repossess not only the particular item sold but also every other item bought from the seller on which a balance remained due when the last purchase was made. — Also termed dragnet clause.

---

词条贡献者

资深译员Jeffrey，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与建设工程诉讼有关的法律文件。