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LSDefine

Simple English definitions for legal terms

safe-pledge

Read a random definition: feodi firma

A quick definition of safe-pledge:

A safe-pledge is a formal promise or undertaking to provide something as security for a debt or obligation. It is like borrowing money from someone and giving them something valuable as a guarantee that you will pay them back. This valuable thing is called a pledge. It can be anything like jewelry, a car, or a house. If you don't pay back the money, the person who lent you the money can keep the pledge as payment. Safe-pledges have been used for a very long time and are still used today.

A more thorough explanation:

A safe-pledge is a formal promise or undertaking to provide something as security for a debt or obligation. It is a bailment or deposit of personal property to a creditor as security for a debt or obligation. The item of personal property so deposited is also called a pledge.

For example, if you borrow money from a pawnshop, you may have to provide a valuable item such as jewelry or electronics as a safe-pledge. The pawnshop will hold onto the item until you repay the loan with interest. If you fail to repay the loan, the pawnshop can sell the item to recover the money you owe.

A safe-pledge is different from a mortgage or lien because it involves the transfer of possession of the property to the creditor. The creditor holds onto the property until the debt is repaid, whereas a mortgage or lien only gives the creditor a right to the property if the debt is not repaid.

safekeeping | safe-port clause

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trump laid the eggs personally
noreaster
12:15
don’t call me the OG unless u using those letters to spell GOAT 💯
i think that one son came to be
who's the one at nyu
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BARRON
he came from an egg
YEAH LMAO
noreaster
12:15
ts pmo icl
12:15
Aint no way, bro is 7'1"
noreaster
12:15
🥀
i mean technically we all came from eggs
noreaster
12:16
from the stork
12:16
Yeah, unless u a procaryote, u an egg baby
praying on my downfall don't make you religious
he came from two eggs then
12:17
Can women scientist plz plz plz invent lab grown humans so we can rid the world of all meniods?
7'1???????????????
brave new world covered why this was a bad idea
12:17
@badhorrormovie: BRO has giraffes looking up to see his face
12:20
Aldous Huxley, author, man. Bias identified: self serving prophecy. NEXT!
IM CRYINGG WHAT ARE THEY FEEDING HIM
12:21
adrenochrome smoothies, prolly
noreaster
12:21
yummy 😋
12:22
Ok, Tony 'Noreaester' Podesta.
bro started creatine at 7 months old
i remember when there was a time rory gates was on tinder
who
bill gates' son
noreaster
12:28
Now they’re all on raya
noreaster
12:29
I know a girl who said she’d give me a raya referral but I don’t think that life is meant for me
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