COLLATERAL (from Med. Lat. collateralis, - cum, with, and latus, lateris, side, - side by side, hence parallel or additional), a term used in law in several senses. Collateral relationship means the relationship between persons who are descended from the same stock or ancestor, but in a different line; as opposed to lineal, which is the relationship between ascendants and descendants in a direct line, as between father and son, grandfather and grandson. A collateral agreement is an agreement made contemporaneously with a written contract as part of the transaction, but without being incorporated with it. Collateral facts, in evidence, are those facts which do not bear directly on the matters in dispute. Collateral security is an additional security for the better safety of the mortgagee, i.e. property or right of action deposited to secure the fulfilment of an obligation.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)