Of non-legal obligations, collateral assurance is a
bond
Bond or bonds may refer to:
Common meanings
* Bond (finance), a type of debt security
* Bail bond, a commercial third-party guarantor of surety bonds in the United States
* Chemical bond, the attraction of atoms, ions or molecules to form chemical ...
made over and beyond the
deed itself, for the performance of an agreement, or
covenant
Covenant may refer to:
Religion
* Covenant (religion), a formal alliance or agreement made by God with a religious community or with humanity in general
** Covenant (biblical), in the Hebrew Bible
** Covenant in Mormonism, a sacred agreement ...
, made between two individuals; so called, for being external, and without the nature and essence of a covenant. A collateral assurance is separate but subservient to the principal contract. It usually allows for damages to be paid when the assurance is broken without allowing the principal agreement to be voided.
Warranties
In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract",Hogg M. (2011). ''Promises and Contract Law: Comparative Perspectives''p. 48 Cambrid ...
are examples of this sort of assurance.
Legal documents
Contract law
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