Practical Law Canada Glossary 8-570-1129 (Approx. 2 pages)
Glossary
Collateral
Property owned by a debtor that is pledged by the debtor in favour of a secured party to secure payment or performance of an obligation. If the debtor breaches its obligations to the secured party, the secured party will have rights and remedies with respect to the collateral such as the right to seize and sell the collateral.