Found 1 items, similar to To hold in pledge.
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Definition: To hold in pledge
, n. [OF. plege, pleige, pledge, guaranty, LL.
plegium, plivium; akin to OF. plevir to bail, guaranty,
perhaps fr. L. praebere to proffer, offer (sc. fidem a trust,
a promise of security), but cf. also E. play. [root]28. Cf.
1. (Law) The transfer of possession of personal property from
a debtor to a creditor as security for a debt or
engagement; also, the contract created between the debtor
and creditor by a thing being so delivered or deposited,
forming a species of bailment; also, that which is so
delivered or deposited; something put in pawn.
Note: Pledge is ordinarily confined to personal property; the
title or ownership does not pass by it; possession is
essential to it. In all these points it differs from a
mortgage [see Mortgage
]; and in the last, from the
hypotheca of the Roman law. See Hypotheca
2. (Old Eng. Law) A person who undertook, or became
responsible, for another; a bail; a surety; a hostage. “I
am Grumio's pledge.”
3. A hypothecation without transfer of possession.
4. Anything given or considered as a security for the
performance of an act; a guarantee; as, mutual interest is
the best pledge for the performance of treaties. “That
voice, their liveliest pledge of hope.”
5. A promise or agreement by which one binds one's self to
do, or to refrain from doing, something; especially, a
solemn promise in writing to refrain from using
intoxicating liquors or the like; as, to sign the pledge;
the mayor had made no pledges.
6. A sentiment to which assent is given by drinking one's
health; a toast; a health.
. [A translation of LL
. mortuum vadium.] (Law)
A mortgage. See Mortgage
. [A translation of LL. vivum vadium.] (Law)
The conveyance of an estate to another for money borrowed,
to be held by him until the debt is paid out of the rents
To hold in pledge
, to keep as security.
To put in pledge
, to pawn; to give as security.
Syn: See Earnest