Pawn Or Pledge - Law Dictionary Search Results
Home Dictionary Name: pawn or pledgePawn 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...
Pawn
Pawn, is a security, whereby contract, a deposit of goods is made as security for a debt. The right to property vests in the pledge only so far as is necessary to secure the debt. A pawn or pledge is an intermediate between a simple lien and a mortgage which wholly passes the property in the thing covered, Lallan Prasad v. Rahmat Ali, AIR 1967 SC 1322.Means security, whereby contract, a deposit of goods is made as security for a debt. The right to property vests in the pledge as to secure a debt, Holliday v. Holygate, (1968) 3 Ex 299; Lallan Prasad v. Rahmat Ali, AIR 1967 SC 1322: (1967) 1 SCWR 709....
Impawn
To put in pawn to pledge to pawn...
Empawn
To put in pawn to pledge to impawn...
Bailment
Bailment [fr. bailler, Fr., to deliver], a compendious expression to signify a contract resulting from delivery; perhaps best defined as a 'delivery of a thing in trust for some special object or person, and upon a contract express or implied, to conform to the object or purpose of the trust.'In the celebrated case of Coggs v. Bernard, (1704) Ld Raym 909; 1 Sm L C, Lord Holt divided bailments thus:-(1) Depositum, or a naked bailment of goods, to be kept for the use of the bailor.A restaurant keeper has been held liable for loss of an overcoat entrusted by a customer to a waiter, Ultzen v. Nicols, (1894) 1 QB 92; Orchard v. Bush & Co., (1898) 2 QB 284.(2) Commodatum. Where goods or chattels that are useful are lent to the bailee gratis, to be used by him. See Coughlin v. Gillison, (1899) 1 QB 145.(3) Locatio rei. Where goods are lent to the bailee to be used by him for hire.(4) Vadium. Pawn or pledge.(5) Locatio operis faciendi. Where goods are delivered to be carried, or something is t...
Impignoration
The act of pawning or pledging the state of being pawned...
Pawnbroker
Pawnbroker, contemplates that every person who keeps a shop for the purchase or sale of goods or chattels and who purchases goods or chattels and pays or advances thereon any sum of money, with or under an agreement or understanding expressed or implied that the goods or chattel may be afterwards repurchased on any terms, is a 'pawnbroker', Karnataka Pawnbrokers' Assn. v. State of Karnataka, (1998) 7 SCC 707.One who lends money on goods which he receives upon pledge.The rate of interest which pawnbrokers may take has been fixed by law since 1800, by 39 & 40 Geo. 3, c. 48, which Act placed their whole business under various other restrictions. By the (English) Pawn-brokers Act, 1872 (which applies to Scotland, but not to Ireland), this Act, together with its amending Acts, is repealed, and the statute law of the subject consolidated. Sch. IV., dealing with profits and charges, has been amended by the (English) Pawnbrokers Act, 1922, in respect of loans not exceeding 40s.By s. 5 of the A...
Lumber
A pawnbrokers shop or room for storing articles put in pawn hence a pledge or pawn...
Pawner
One who pawns or pledges anything as security for the payment of borrowed money or of a debt...
pawn
pawn 1 a : a pledge and transfer of possession of movable or personal property to a creditor which gives the creditor the privilege of satisfying the debt from the property (as by selling it) if the debt is not repaid within a specified time ;also : the property pledged [shall not take as a any workman's tools] compare antichresis b : the state of being so pledged or burdened by such a pledge [goods held in ] 2 : the act of pawning vt : to put (personal or movable property) in pawn [when it is redeemed by the person who ed it] compare hypothecate pawn·er [pȯ-nər] or paw·nor [same or pȯ-nȯr] n ...
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