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dragnet clause

noun

Definitions of dragnet clause

  • a provision in a loan agreement, mortgage, deed or trust that places the subject property as security for existing past, present and future debts between the debtor, creditor and future beneficiaries.

    "The court refused to enforce the dragnet clause because it was not negotiated and was misunderstood by the borrower."

Phrase Bank for dragnet clause

Additional Notes for dragnet clause

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