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.

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词条贡献者

法律翻译Wayne，毕业于一所培养最顶级翻译人才的语言学院，专注翻译各类与调查、政府执法和白领刑事辩护有关的法律文件。