01 n. The transfer of possession of personal property from a debtor to a creditor as security for a debt or engagement; also, the contract create…
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1.
The transfer of possession of personal property from a debtor to a creditor as security for a debt or engagement; also, the contract created between the debtor and creditor by a thing being so delivered or deposited, forming a species of bailment; also, that which is so delivered or deposited; something put in pawn.(Law)
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2.
A person who undertook, or became responsible, for another; a bail; a surety; a hostage.(Old Eng. Law)
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3.
A hypothecation without transfer of possession.
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4.
Anything given or considered as a security for the performance of an act; a guarantee; as, mutual interest is the best pledge for the performance of treaties.
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5.
A promise or agreement by which one binds one's self to do, or to refrain from doing, something; especially, a solemn promise in writing to refrain from using intoxicating liquors or the like; as, to sign the pledge; the mayor had made no pledges.
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6.
A sentiment to which assent is given by drinking one's health; a toast; a health.
Phrases & compounds
Dead pledge —
A mortgage. See Mortgage.
Living pledge —
The conveyance of an estate to another for money borrowed, to be held by him until the debt is paid out of the rents and profits.
To hold in pledge —
to keep as security.
To put in pledge —
to pawn; to give as security.
Syn.
See Earnest.