A pledge is a species of bailment whereby chattels are deposited by way of security with the pledgee, its key characteristic being the actual or constructive delivery1 of immediate possession of the chattels in exchange for the loan but without transfer of ownership2. The pledgor's right to possession is deferred to the repayment of the debt; however, he retains the right to deal with the goods as title-holder subject to the pledge3. It is said that the pledgor retains a general property in the goods, while the pledgee takes a special property4, but this terminology has been criticised5. The
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234