Definition: Real or personal property pledged as security on a debt.
Pronunciation: \kə-ˈla-t(ə-)rəl\
Used in a Sentence: The adjoining property was pledged as collateral for the debt.
Definition: Real or personal property pledged as security on a debt.
Pronunciation: \kə-ˈla-t(ə-)rəl\
Used in a Sentence: The adjoining property was pledged as collateral for the debt.