Pledge is the pignus of Roman law, from which most of modern European law in this area derives, but which is generally a feature of even the most fundamental legal systems. It differs from the mortgage and the most common mortgage in that the mortgage debt is held by the pledge creditor. [3] However, the same applies to all three may apply to personal and real property. The seizure of personal property is called pledge and that of real estate as antichrese. Sometimes called a surety, pledges are a form of collateral to ensure that a person pays a debt or performs an act as part of a contract. In a pledge, a person temporarily transfers the property of another party. Deposit contracts are typically used to secure credit, to mortgage the property for cash, and to ensure that contract work is performed. Each deposit consists of three parts: two separate parts, a debt or obligation and a deposit contract. The law of the deposit is quite old, but in the United States today. In most countries, the provisions relating to secure transactions are governed by Article 9 of the UNIFORM COMMERCIAL CODE.
Impossible. For example, a pledge holder has constructive possession of the contents of a pledge creditor`s safe with a bank, if the pledge holder gives the pledge holder the only keys to the box. In ancient medieval law, especially in Germanic law, there were two types of rights of pledge which were either owned (cf. altenglisch wed, altfrançaise gagei, althochdeutsche wetti, Latin pignus depositum), i.e. ceded a priori, or not possessed (cf. OE bād, OFr nam, nant, OHG pfant, L pignus oppositum), i.e. seized on the due date, and the latter essentially justified the legal principle of seizure. This distinction persists in some systems, for example.B.
French gage vs. pledge and Dutch vuistpand vs. stil pand. Reciprocal symbolic (symbolic) commitments have generally been incorporated into formal ceremonies in order to consolidate agreements and other transactions. The main difference between Roman law and English law is that certain things (e.g.B. clothing, furniture and tillage instruments) could not be mortgaged in Roman law, while there is no such restriction in English law. In the event of seizure, a particular property is transferred to the pledge creditor, which allows him to maintain legal action against a criminal, but the general ownership, i.e. the property that is subject to the deposit, remains in the hands of the pledge holder. [3] The laws of Scotland of the United States are generally consistent with those of England with respect to commitments. . .
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