dragnet clause

dragnet clause
A provision of a mortgage which broadens the security clause to cover all indebtedness of the mortgagor to the mortgagee of past or future origin, existing indebtedness, advances to be made by the mortgagee to the mortgagor, and indebtedness of the mortgagor to the mortgagee created subsequent to the execution of the mortgage. Anno: 172 ALR2d 1082.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • dragnet clause — noun : a clause in a tariff law that imposes a certain rate of duty on articles not enumerated as free from duty or as subject to any other duty …   Useful english dictionary

  • dragnet clause — A provision in a mortgage or security agreement that attempts to extend the security interest granted to the creditor to cover not only the described debt but also all other present and future indebtedness of the debtor. American Banker Glossary …   Financial and business terms

  • dragnet clause — Provision in a mortgage in which mortgagor gives security for past and future advances as well as present indebtedness. A type of mortgage provision that attempts to make the mortgaged real estate security for other, usually unspecified, debts… …   Black's law dictionary

  • dragnet clause — Provision in a mortgage in which mortgagor gives security for past and future advances as well as present indebtedness. A type of mortgage provision that attempts to make the mortgaged real estate security for other, usually unspecified, debts… …   Black's law dictionary

  • clause — Synonyms and related words: adjectival phrase, article, back matter, bill, book, boundary condition, calendar, catch, chapter, column, companion bills amendment, condition, construction, donnee, dragnet clause, enacting clause, escalator clause,… …   Moby Thesaurus

  • saving clause — Synonyms and related words: alternative, bill, boundary condition, calendar, catch, choice, clause, companion bills amendment, condition, donnee, dragnet clause, enacting clause, escalator clause, escape clause, escape hatch, fine print, given,… …   Moby Thesaurus

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  • proviso — Synonyms and related words: bill, boundary condition, calendar, catch, clause, companion bills amendment, condition, donnee, dragnet clause, enacting clause, escalator clause, escape clause, escape hatch, exception, fine print, given, grounds,… …   Moby Thesaurus

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