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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.
Herbert Broom′s text of 1858 on legal maxims lists the phrase under the heading ″Rules of logic″, stating: Reason is the soul of the law, and when the reason of any particular law ceases, so does the law itself. [9] ceteris paribus: with other things the same More commonly rendered in English as "All other things being equal."
In Roman law, a thing given as a pledge or bond was a sacramentum. The sacramentum legis actio was a sum of money deposited in a legal procedure [5] to affirm that both parties to the litigation were acting in good faith. [6] If correct law and procedures had been followed, it could be assumed that the outcome was iustum, right or valid
Pledge (brand), a cleaning product by S. C. Johnson & Son; Pledge (law), a type of legal relationship; a prospective member of a fraternity or sorority; H.S. Pledge & Sons Ltd, a milling business; Thomas Frederick de Pledge (1867–1954), Australian pioneer and pastoralist; Pledge, a maze-solving algorithm
The constitutionality of state pledge laws was confirmed by the U.S. Supreme Court in 1952 in Ray v. Blair [12] in a 5–2 vote. The court ruled states have the right to require electors to pledge to vote for the candidate whom their party supports, and the right to remove potential electors who refuse to pledge prior to the election.
In Australia, negative pledge lending took off after a substantial deal by Pioneer Concrete in 1978. [1] It was a new way of lending, which allowed the banks to lend to corporations, something previously the domain of life insurers. Negative pledge clauses are almost universal in modern unsecured commercial loan documents.
A common legal substitute for those who object to making sacred oaths is to give an affirmation instead. Nowadays, even when there is no notion of sanctity involved, certain promises said out loud in ceremonial or juridical purpose are referred to as oaths. "To swear" is a verb used to describe the taking of an oath; to make a solemn vow.
The word is a Law French term meaning "dead pledge," originally only referring to the Welsh mortgage (see below), but in the later Middle Ages was applied to all gages and reinterpreted by folk etymology to mean that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure. [1]