Freebody, 4 C. B. (N
Categories: Commercial Law
Definition (1910 Edition)
8.) 263.—Collateral line. A line of descent connecting persons who are not directly related to each other as ascendants or descendants, but whose relationship consists in common descent from the same ancestor.—Direct line. A line of descent traced through those persons ouly who are related to each other directly as ascendants or descendaats.—L of credit. A margin or fixed limit of credit, granted by a bank or merchant to a customer, to the full extent of which the latter may avail himself in his dealings with l the former, but which he must not exceed; usually intended to cover a series of transactions, in which case, when the customer’s line of credit is © nearly or quite exhausted, he'is expected to reduce his indebtedness by payments before drawing upon it further. See Isador Bush
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain.
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