freehanded

1. (finance) Transferable to other assets.Examples: "The borrower, they feel, should be free to put the proceeds of sale or collection into new goods, provided they, and accounts representing the sale of them, shall in turn be subject to the lien that secures the loan. That is a freehanded mortgage, and with respect to it various views are entertained."; "The various ideas so far discussed turn on the question, not whether the agreement is preferential, but whether it is a fraud upon creditors, or (as the Supreme Court held in the case of a freehanded mortgage of accounts) whether it is really a mortgage at all."