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Collateral (1)
COLLATERAL (1)

Definition: (finance) Property or something valuable that you promise to give to somebody if you cannot pay back money that you borrow.
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* All nine elements should be in.


1. Purposeful and necessary (see definition).

2. Fully owned. That is, property or valuable is not under any legal encumbrance to prevent full possession, if to be taken, by creditor.

3. Will, when converted into cash, be equal to or be worth more than the amount of money that you borrow.

4. Deposited appropriately. That is, property or valuable is not or will not be in your possession after collecting loan. In other words, assets will be kept someplace, as agreed in agreement/contract.

5. Property or valuable is not tampered with at the place where it is kept for safekeeping (to emphasize).

6. Item is guaranteed to still have some worth or value afterwards. That is, no likelihood of a natural disaster, economic downturn, etc. that will negatively affect quality of property or valuable.

7. Property or valuable is the one you choose or chose, not one promised under a coercion.

8. Property or valuable is not one that you won't mind being 'lost'. (To emphasize, connect to #7 & #9.)

9. Serves purpose(s), whether debt is paid back or not.
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WHICHEVER ..., WHATEVER !


See perfect collateral security.

See perfect property (1).

See perfect promise (1).

See perfect negotiation.

See perfect amortization.

See perfect bad debt.

See perfect asset (1).

See perfect valuables.

See perfect debt (2).

See perfect debt (1).

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