Pledge - Law Dictionary Search Results
Home Dictionary Name: pledge Page 1 of about 173 results ( seconds)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...
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....
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...
Frank-pledge
Frank-pledge, a surety to the sovereign for the good behaviour of freemen. Living under frank-pledge has been termed living under law, Fleta, i. 47. See Court-LEET.A promise given to sovereign by a group of ten free holders (a tithing) ensuring the groups good conduct, Black's Law Dictionary, 7th Edn., p. 670....
Dead pledge
Dead pledge [mortuum vadium], a mortgage of lands or goods...
Sae-pledge
Sae-pledge, a surety appointed for one's appearance at a day assigned, Bract. 1. 4....
Vivum vadium, Vifgage or Living pledge
Vivum vadium, Vifgage or Living pledge, when a person borrows money of another, and grants to him an estate to hold till the rents and profits shall repay the sum borrowed with interest. The estate is conditioned to be void as soon as the sum is realized. See WELSH MORTGAGE, and 2 Br. & Had. Com. 299....
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...
hypothecate
hypothecate -cat·ed -cat·ing [Medieval Latin hypothecare to pledge, from Late Latin hypotheca pledge, from Greek hypothēkē, from hypotithenai to put under, deposit as pledge] : to pledge as security without delivery of title or possession compare pawn hy·poth·e·ca·tion [-pÄ -thə-kā-shən] n ...
Factor
Factor [fr. facteur, Fr.], a substitute in mercantile affairs; an agent employed to sell goods or merchandise consigned or delivered to him by or for his principal, for a compensation commonly called factorage or commission. Hence he is often called a commission-merchant or consignee; and the goods received by him for sale are called a consignment. He is a home factor when he resides in the same state or country with his principal, and a foreign factor when he resides in a different state or country. He differs from a broker in this, and he may buy and sell in his own name, and is entrusted with the possession and disposal of the goods, and has a special property in, and a lien on, them; yet neither can delegate his authority, unless conferred by usages of trade or the assent of his principal. Factors have no incidental authority to barter goods, or to pledge them for advances made to them on their own account, or debts due by themselves; but they may pledge them for advances made on a...
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