pledgee

/pli'dʤi:/

Thân thiện

The bank holds the property as a pledgee until the loan is repaid.

Definition

1. Noun:
   • A person or entity to whom a pledge is made: A "pledgee" is the party who receives something as security or collateral for a promise, typically in a financial or legal agreement.
   • A person with whom something is deposited as a pledge: This refers to the recipient who holds a pledged item as a guarantee for the fulfillment of an obligation, such as the repayment of a loan.

Usage Examples

• Noun:
  • The bank, as the pledgee, held the title to the car until the loan was fully repaid.
  • In the pawnshop transaction, the shop owner is the pledgee of the jewelry.

Advanced Usage

• Legal Context: In contract law, the "pledgee" has a possessory lien over the pledged property, meaning they have the right to retain it until the debt is settled.
  • The pledgee's rights are protected under the Uniform Commercial Code.
• Financial Context: Often used in secured lending, where the lender is the pledgee of the borrower's assets.
  • The investor became the pledgee of the company's stock certificates.

Variants and Related Words

• Pledge (n/v): The promise or the item given as security.
  • He gave his watch as a pledge for the loan.
• Pledgor (n): The person who gives a pledge.
  • The borrower is the pledgor in this agreement.

Synonyms

• Secured party: The entity that holds a security interest in collateral.
• Lienholder: A person or organization that holds a legal claim (lien) on property as security for a debt.

Related Phrases

• Right of the pledgee: Refers to the legal entitlements of the recipient of the pledge, such as the right to sell the collateral under certain conditions.
  • The contract clearly outlined the rights of the pledgee in case of default.

Học thuật

Noun

1. someone to whom a pledge is made or someone with whom something is deposited as a pledge