Battle burgers, had enough of pledgee wedges and stench warfare?
The pledgor agrees to secure a valid underlying principal debt by pledging his movable property to the pledgee.
The major flaw with the pledge is that it requires physical possession by the pledgee, which traps a business pledgor in a paradox.
Control that vests in the pledgee is known as quasi-control.
Every country is required to provide legal framework to protect the interest of the pledgor and pledgee.
Like the borrower, a pledgee was held to the "culpa levis in abstracto" standard; again, this may have developed from "custodia".
The pledgee had to set any profits derived from the thing against the outstanding debt.
It is created by delivery of the movable property, pursuant to an agreement between the parties, who are known as the pledgor and the pledgee.
