Dead Pledge - Law Dictionary Search Results
Home Dictionary Name: dead pledgeDead pledge
Dead pledge [mortuum vadium], a mortgage of lands or goods...
Estate
Estate [fr. status, Lat.; etat, Fr.], the condition and circumstance in which an owner stands with regard to his property. The word is used in several senses and may denote either an estate in land; or an estate in property other than land; a legal estate or an equitable estate, land being an immovable is capable of being the subject of many estates existing concurrently with each other, thus the absolute ownership or fee simple may be leased and sub-leased, mortgaged and charged, each of the holders of these estates having a good legal or equitable estate at the same time; again, estates may be in possession, or in futuro; personal property may also be subject concurrently to a variety of ownerships, according to its nature; technically, in regard to land, the word is used to denote the quantity of interest, e.g., estate in fee simple, for life, for years, etc., in either legal or equitable estates. In practice its most important division is into real estate and personal estate, altho...
Gage, estates in
Gage, estates in, those held in vadio or pledge. They are of two kinds: (1) vivium vadium, or living pledge, or vifgage; (2) mortuum vadium, or dead pledge, better known as mortgage....
Pawn or Pledge
Pawn or Pledge [fr. pignus, Lat.], a bailment of goods by a debtor to his creditor, to be kept till the debt is discharged.A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the whole legal title passes conditionally to the mortgagee; and if the goods be not redeemed at the stipulated time, the title becomes absolute at law although equity allows a redemption. But in a pledge, a special property only passes to the pledgee, the general property remaining in the pledgor. Also, in the case of a pledge, the right of a pledgee is not consummated, except by possession; and, ordinarily, when that possession is relinquished, the right of the pledgee is extinguished or waived. But, in the case of a mortgage of personal property the right of property passes by the conveyance to the mortgagee, and the possession is not or may not be essential to create or support the title.As to things which may be the subject of pawn: These are, ordinarily, goods a...
Vadium mortuum
Vadium mortuum, a mortgage or dead-pledge by which the pledgor loses the security and its fruits or interest which were taken by the pledgee or mortgagee until repayment or redemption; and see VIVUM VADIUM....
pledge
pledge 1 : a delivery of esp. personal property as security for a debt or other obligation ;broadly : the perfection of a security interest in collateral through possession of the collateral by a creditor or other promisee 2 a : property and esp. personal property that is used as security esp. upon delivery ;broadly : a security interest in collateral compare chattel mortgage at mortgage b : a contract under which the delivery of property (as personal property) as security takes place 3 a : the state of being held as security or guaranty [property held in ] b : something given as security for the performance of an act 4 : a binding promise to do or forbear vt pledged pledg·ing 1 : to deliver or otherwise put forward as security for a debt or other obligation [pledged his car as collateral for the loan] 2 : to bind by a pledge [we mutually to each other our lives, our fortunes and our sacred honor "Declaration of Independence"] 3 : to assure or promise the performance...
Deadness
The state of being destitute of life vigor spirit activity etc dullness inertness languor coldness vapidness indifference as the deadness of a limb a body or a tree the deadness of an eye deadness of the affections the deadness of beer or cider deadness to the world and the like...
Dead rent and royalty
Dead rent and royalty, 'dead rent' is calculated on the basis of the, area leased while 'royalty' is calculated on the quantity of minerals extracted or removed. Thus, while dead rent is a fixed return to the lessor, royalty is a return which varies with the quantity of minerals extracted or removed. Since dead rent and royalty are both a return to the lessor in respect of the area leased looked at from one point of view dead rent can be described as the minimum guaranteed amount of royalty payable to the lessor but calculated on the basis of the area leased and not on the quantity of minerals extracted or removed, D.K. Trivedi v. State of Gujarat, AIR 1986 SC 1323 (1345): (1986) Supp SCC 20....
Pledge
Pledge, anything put to pawn or given by way of warrant or security; also a surety, bail, or hostage. See PAWN; PIGNUS.Means the transfer of movable property as a security for debt or obligation. The pledgee has the right to sell the goods for the realisation of his debt. But he cannot 'foreclose' the pledge and become the owner of the property himself. This is a feature which distinguishes a pledge from a mortgage, Branch Manager, State Bank of Hyderabad v. GRB Viswanadha Raju, AIR 1993 AP 337: (1993) 2 Andh LT 274: (1993) 2 Hindu LR 36: (1993) 2 Bank Cas 542: (1993) 2 Cur CC 491....
dead man's statute
dead man's statute : a law barring the testimony of a person with an interest in an estate regarding any conversation with or any event taking place in the presence of the decedent called also dead man act dead man's act ...
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