Pledge: Difference between revisions
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{{anat|security}}A rare beast, in the annals of finance. A {{tag|legal security}} interest. | {{a|glossary|}}{{anat|security|}}A rare beast, in the annals of finance. A {{tag|legal security}} interest. | ||
===What?=== | ===What?=== | ||
A pledge is a [[security interest]] —a type of [[bailment]], if we're getting technical — created by transferring possession of an asset [[by way of security]] for a an obligation, with the intention to create that security interest | A pledge is a [[security interest]] —a type of [[bailment]], if we're getting technical — created by transferring possession of an asset [[by way of security]] for a an obligation, with the intention to create that [[security interest]] | ||
It is the act of pledging, not the document evidencing the pledge, which matters. | It is the act of pledging, not the document evidencing the pledge, which matters. |