Pledge (law)

A pledge is a bailment that conveys title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties.^[1]^[2] The term is also used to denote the property which constitutes the security.^[3] The pledge is a type of security interest.^[4]^[5] Pledge is the pignus of Roman law, from which most of the modern European-based law on the subject is derived, but is generally a feature of even the most basic legal systems.^[3] A pledge of personal property is known as a pawn.

^ Joseph Story, Story on Bailments, 286.
^ Black, Henry C. (1990). Black's Law Dictionary. St. Paul, Mn.: West Publishing. pp. 1153. ISBN 978-0314151995.
^ ^a ^b One or more of the preceding sentences incorporates text from a publication now in the public domain: Chisholm, Hugh, ed. (1911). "Pledge". Encyclopædia Britannica. Vol. 21 (11th ed.). Cambridge University Press. p. 835.
^ "Security Interests under Pledge Agreements" (PDF). The Yale Law Journal Editorial Board. 51 (3): 431–447. 1942. doi:10.2307/792194. JSTOR 792194 – via Yale Database.
^ "Pledge". LII / Legal Information Institute. Retrieved 2022-03-17.

[1] Joseph Story, Story on Bailments, 286.

[2] Black, Henry C. (1990). Black's Law Dictionary. St. Paul, Mn.: West Publishing. pp. 1153. ISBN 978-0314151995.

[EB1911-3] One or more of the preceding sentences incorporates text from a publication now in the public domain: Chisholm, Hugh, ed. (1911). "Pledge". Encyclopædia Britannica. Vol. 21 (11th ed.). Cambridge University Press. p. 835.

[4] "Security Interests under Pledge Agreements" (PDF). The Yale Law Journal Editorial Board. 51 (3): 431–447. 1942. doi:10.2307/792194. JSTOR 792194 – via Yale Database.

[5] "Pledge". LII / Legal Information Institute. Retrieved 2022-03-17.

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