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LSDefine

Simple English definitions for legal terms

pignus

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A quick definition of pignus:

Term: PIGNUS

Definition: Pignus is a type of agreement in which goods are given to secure the payment of a debt or the performance of a promise. This agreement benefits both parties, and if the debtor fails to fulfill their obligation, the goods can be sold to cover the debt. Pignus can also refer to a lien, which is a legal claim on someone's property to secure a debt. There are different types of pignus, such as pignus judiciale, which is a lien that a creditor has on the property of the debtor, and pignus legale, which is a lien that arises by law, such as a landlord's lien on a tenant's property. Pignus praetorium is a type of pledge given to a creditor by order of a magistrate in Roman law.

A more thorough explanation:

Definition: Pignus (pronounced pig-nuhs) is a Latin term that refers to a type of bailment in which goods are delivered to secure the payment of a debt or performance of an engagement, accompanied by a power of sale in case of default. This means that if someone owes money or has made a promise to do something, they can give something valuable as collateral to ensure that they follow through on their obligation. If they fail to do so, the person who holds the collateral can sell it to recover the debt.

Examples: A common example of pignus is when someone takes out a loan from a pawn shop. They give the pawn shop something valuable, like a piece of jewelry or a musical instrument, as collateral. If they pay back the loan on time, they can get their item back. If they don't, the pawn shop can sell the item to recover the money they lent.

Another example of pignus is when a landlord has a lien on a tenant's property. This means that if the tenant fails to pay rent, the landlord can take possession of the tenant's belongings and sell them to recover the unpaid rent.

These examples illustrate how pignus works to ensure that people fulfill their obligations. By giving something valuable as collateral, they are more likely to follow through on their promises or repay their debts.

pignoris capio | PIH

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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.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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