Encyclopedia of Early Modern History Online

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(1,473 words)

1. Concept

The law of pledge establishes security for a debt, particularly as incurred in the provision of credit. In effect, the pledge serves as protection for the debt secured. The pledgee may sell or exchange the object pledged in order to satisfy his claim from the proceeds if the pledgor fails to repay the debt. A pledge may be made through a contractual provision (bailment; see below, 3.) or as a creditor…

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Löhnig, Martin, “Pledge”, in: Encyclopedia of Early Modern History Online, Editors of the English edition: Graeme Dunphy, Andrew Gow. Original German Edition: Enzyklopädie der Neuzeit. Im Auftrag des Kulturwissenschaftlichen Instituts (Essen) und in Verbindung mit den Fachherausgebern herausgegeben von Friedrich Jaeger. Copyright © J.B. Metzlersche Verlagsbuchhandlung und Carl Ernst Poeschel Verlag GmbH 2005–2012. Consulted online on 07 December 2023 <http://dx.doi.org/10.1163/2352-0272_emho_COM_025460>
First published online: 2015
First print edition: 20200721

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