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Legal Terms - collateral advantage
the circumstance where a contracting party leverages his better negotiating position to secure provisions that benefit him beyond the advantages granted by the main contract itself, frequently disproportionately. One of the parties to a contract may be granted such an advantage, for example, by including a *solus tie or a *option to purchase. In the context of a mortgage contract, clauses that confer a collateral benefit are subject to being thrown down by the court because they impede or restrict the mortgagor's *equitable right to redeem.
the circumstance where a contracting party leverages his better negotiating position to secure provisions that benefit him beyond the advantages granted by the main contract itself, frequently disproportionately. One of the parties to a contract may be granted such an advantage, for example, by including a *solus tie or a *option to purchase. In the context of a mortgage contract, clauses that confer a collateral benefit are subject to being thrown down by the court because they impede or restrict the mortgagor's *equitable right to redeem.
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