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Simple English definitions for legal terms

pignorative contract

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A quick definition of pignorative contract:

A pignorative contract is an agreement between two or more parties that creates obligations that can be enforced by law. It can be a written document or a verbal agreement. A contract is like a promise that must be kept, and if it is broken, there are consequences. The consequences can be a penalty or a legal action. A pignorative contract is a type of contract that involves the use of collateral, such as property or assets, to secure the agreement.

A more thorough explanation:

A pignorative contract is a type of contract that involves the use of a pledge or security to guarantee the fulfillment of an obligation. It is a legal agreement between two or more parties that creates enforceable obligations.

For example, if a person borrows money from a bank, they may be required to sign a pignorative contract that allows the bank to take possession of a valuable asset, such as a car or house, if the borrower fails to repay the loan.

Another example of a pignorative contract is a pawnshop agreement. When a person pawns an item, such as a piece of jewelry, they sign a contract that allows the pawnshop to keep the item as collateral until the borrower repays the loan.

These examples illustrate how a pignorative contract works by providing security for the lender or creditor. The borrower or debtor agrees to pledge an asset as collateral, which gives the lender or creditor the right to take possession of the asset if the borrower or debtor fails to fulfill their obligations under the contract.

pignoratitia actio | pignoris capio

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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