pledgee

If the pledgee fell short of the expected standard, the contract was terminated immediately.

The pledgee had to set any profits derived from the thing against the outstanding debt.

Control that vests in the pledgee is known as quasi-control.

The pledgee therefore obtained good title to the diamonds.

The pledged object is delivered by the pledgor to the pledgee.

The pledgee is entitled to protect his possession by means of an interdict.

Every country require to provide legal framework to protect the interest of the pledgor and pledgee.

The pledgor and pledgee together combine to constitute 'the owner.'

The pledgee could claim for expenses incurred in maintaining the thing (such as an animal or slave).

The pledgee did not have ownership, and therefore could not sell or destroy the thing, which was restrictive.

Delivery can be actual or constructive, but the pledgee must retain possession of the pledged object.

The pledgee was immunized against the freight claim because of his failure to acquire full title to the goods.

The pledgor gives the pledgee (the lender) some rights but does not part with all rights of ownership.

The pledgee, if he was in physical control of the object (as was usually the case) was required to safeguard the thing.

The pledgee has the right of selling the pledge if the pledgor make default in payment at the stipulated time.

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.

The major flaw with the pledge is that it requires physical possession by the pledgee, which traps a business pledgor in a paradox.

If the pledgee gives up possession voluntarily, the pledge is terminated, but a third party may exercise possession on his behalf.

If one person had a positive right in a thing, such as a pledgee, usufructory, or good faith possessor, both he and the owner could sue.

As the pledge is for the benefit of both parties, the pledgee is bound to exercise only ordinary care over the pledge.

The pledgor agrees to secure a valid underlying principal debt by pledging his movable property to the pledgee.

Although the pledgee is entitled to possession, he is not entitled to use it, enjoy it or take any of its fruits.

Like the borrower, a pledgee was held to the culpa levis in abstracto standard; again, this may have developed from custodia.

It differs from hypothecation and from the more usual mortgage in that the pledge is in the possession of the pledgee.

The transfer serves to protect the pledgee's real security right by preventing the pledgor from alienating the pledged object or pledging it to some other person.