Category:Pledge

Pledge, n. Etym: [of. plege, pleige, pledge, guaranty, ll. plegium, Plivium; akin to of. plevir to bail, guaranty, perhaps fr. L. Praebere to proffer, offer (sc. fidem a trust, a promise of Security), but cf. also e. play. sq. root28. Cf. Prebend, replevin.]

1. (law)

Defn: 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.

Note: pledge is ordinarily confined to personal property; the title Or ownership does not pass by it; possession is essential to it. In All these points it differs from a mortgage [see mortgage]; and in The last, from the hypotheca of the roman law. See hypotheca. Story. Kent.

2. (old eng. Law)

Defn: a person who undertook, or became responsible, for another; a Bail; a surety; a hostage. "i am grumio's pledge." Shak.

3. A hypothecation without transfer of possession.

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. "that voice, their liveliest pledge of Hope." Milton.

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.

6. A sentiment to which assent is given by drinking one's health; a Toast; a health. Dead pledge. Etym: [a translation of ll. mortuum Vadium.] (law) a mortgage. See mortgage. -- living pledge. Etym: [a translation of ll. vivum vadium.] (law) 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.

Pledge Pledge, v. t. [imp. & p. p. Pledged; p. pr. & vb. n. Pledging.] Etym: [cf. Of. pleiger to give security. See pledge, n.]

1. To deposit, as a chattel, in pledge or pawn; to leave in Possession of another as security; as, to pledge one's watch.

2. To give or pass as a security; to guarantee; to engage; to plight; As, to pledge one's word and honor. We mutually pledge to each other our lives, our fortunes, and our Sacred honor. The declaration of independence.

3. To secure performance of, as by a pledge. [obs.] To pledge my vow, i give my hand. Shak.

4. To bind or engage by promise or declaration; to engage solemnly; As, to pledge one's self.

5. To invite another to drink, by drinking of the cup first, and then Handing it to him, as a pledge of good will; hence, to drink the Health of; to toast. Pledge me, my friend, and drink till thou be'st wise. Cowley.

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---excerpt from the Illustrated Bible Dictionary

Pledge - SEE LOAN.