pledge
Definition 1
Cash deposit or placing of owned property by a debtor (the pledger) to a creditor (the pledgee) as a security for a loan or obligation. The pledgee has an implied right to confiscate and/or sell the pledged property to satisfy his or her claim in case of a default.
Definition 2
Property so deposited.
pledge is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
pledge appears in the definitions of the following terms:
secured loan,
financial commitment,
secured,
deed,
subscriber,
no strike clause,
security loan,
securities loan,
unsecured loan,
purchase money mortgage (PMM)
and
This content can be found on the following page:
http://www.businessdictionary.com/definition/pledge.html
email to a friend print this definition cite this definition