1) n. property pledged to secure a loan or debt, usually funds or personal property
as distinguished from real property (but technically collateral can include real
estate). 2) adj. referring to something that is going on at the same time parallel
to the main issue in a lawsuit or controversy which may affect the outcome of the
case, such as adoption of a new federal regulation or a criminal trial of one of
the parties. Example John has filed a lawsuit in New Mexico, where he lives, to
establish that he is not the father of Betty's child, while Betty has filed for
divorce in Colorado asking that John pay child support for the child. The New Mexico
paternity suit is collateral to the Colorado divorce action.
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