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Pawn or Pledge

purpose. It is also of the essence of the contract that the thing should be delivered as a security for some debt or engagement. It may be delivered as security for a future debt or engagement, as

bona fide purchaser

also bona fide purchaser for value NOTE: There are particular requirements for a bona fide purchaser of a security set out in Uniform Commercial Code section 8-302. Under this section a bona fide purchaser is one who

bond

an interest-bearing document giving evidence of a debt issued by a government body or corporation that is sometimes secured by a lien on property and is often designed to take care of a particular financial need see

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property

usually considered part of the bankruptcy estate 2 : property acquired after the perfection of a lien or security interest ;esp : such property acquired after the creation of a lien or security interest that is subject

Bond

p. 268. When a bond contains a penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the

Collateral

same that was attained, etc., the issue upon which when taken is tried by a jury instanter; collateral security, where a deed is made of other property, besides that already mortgaged, for the better safety of the

Property

(i) immovable property, (ii) movable property, (iii) any debt or any right to receive payment of money, whether secured or unsecured, (iv) receivable, whether existing or future; (v) intangible assets, being know-how, patent, copyright, trade mark, licence,

Mortgage

to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then

Hypothecation

the pledge. See Sand. Just; Sith's dict. of Antiq., tit. 'Pignus'], the act of pledging a thing as security for a debt or demand without parting with the possession. There are few cases, if any, in our

sale

a sale in which the seller extends credit to the buyer to purchase the item and takes a security interest in the item with the buyer receiving title when the debt has been fully paid off compare

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