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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.
In the course of his judgment, Holt gave this well-known statement of the categories of bailment: And there are six sorts of bailments. The first sort of bailment is, a bare naked bailment of goods, delivered by one man to another to keep for the use of the bailor; and this I call a depositum , and it is that sort of bailment which is mentioned ...
Bailment is distinguished from a contract of sale or a gift of property, as it only involves the transfer of possession and not its ownership.To create a bailment, the bailee must both intend to possess, and actually physically possess, the bailable chattel for example a car mechanic business when a car has been dropped off for repair.
For example, under a common-law pledge (or pawn), the right to enforce the sale of the asset is contingent upon the possession of that asset: an agreement that leaves the debtor in possession of the pledged collateral does not give rise to an enforceable security interest.
Bail in the United States refers to the practice of releasing suspects from custody before their hearing, on payment of bail, which is money or pledge of property to the court which may be refunded if suspects return to court for their trial. Bail practices in the United States vary from state to state.
Appellate court or court of last resort (vs. iudex a quo) iudex a quo: Lower court from which an appeal originates; originating court (vs. iudex ad quem) iura novit curia: the court knows the law The principle that the parties to a legal dispute do not need to plead or prove the law that applies to their case. ius accrescendi: right of accrual
Kim Kardashian turned heads in a sultry backless look for her latest red carpet moment.. The reality star, 44, stepped out to the Fourth Annual Fifteen Percent Pledge Gala in Los Angeles on ...
Historically, detinue came in two forms: "detinue sur bailment" and "detinue sur trover". In detinue sur bailment, the defendant is in a bailment relationship with the claimant and either refuses to return the chattel or else has negligently or intentionally lost or destroyed it. The onus is on the bailee to prove that the loss of the chattel ...