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Simple English definitions for legal terms

safe-pledge

Read a random definition: plead over

A quick definition of safe-pledge:

A safe-pledge is a formal promise or undertaking to provide something as security for a debt or obligation. It is like borrowing money from someone and giving them something valuable as a guarantee that you will pay them back. This valuable thing is called a pledge. It can be anything like jewelry, a car, or a house. If you don't pay back the money, the person who lent you the money can keep the pledge as payment. Safe-pledges have been used for a very long time and are still used today.

A more thorough explanation:

A safe-pledge is a formal promise or undertaking to provide something as security for a debt or obligation. It is a bailment or deposit of personal property to a creditor as security for a debt or obligation. The item of personal property so deposited is also called a pledge.

For example, if you borrow money from a pawnshop, you may have to provide a valuable item such as jewelry or electronics as a safe-pledge. The pawnshop will hold onto the item until you repay the loan with interest. If you fail to repay the loan, the pawnshop can sell the item to recover the money you owe.

A safe-pledge is different from a mortgage or lien because it involves the transfer of possession of the property to the creditor. The creditor holds onto the property until the debt is repaid, whereas a mortgage or lien only gives the creditor a right to the property if the debt is not repaid.

safekeeping | safe-port clause

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13:23
saw that, crazy that she cant just hold the fucker in for a day longer
LMFAO
babycat
13:23
gulc going to hell I’m so serious
glovediedthisishismom
13:24
thats definetly horsey on an alt
glovediedthisishismom
13:24
no way any professor did that
13:25
thrifted a vintage burberry suit today and feeling unstoppable
Dkk
13:26
Nice
glovediedthisishismom
13:26
im in the field like a defensive lineman im always in saks 💯
1a2b3c4d26z
13:26
That's awesome
1a2b3c4d26z
13:26
real ones shop at bergdorf
13:28
real ones shop at YMH
triplethread
13:28
i missed another fordham wave
triplethread
13:28
mamas getting denied
JumpySubsequentDolphin
13:29
the bergdorf on 5th Ave in NYC is so
JumpySubsequentDolphin
13:29
it feels like home
Dkk
13:29
I'm at your mommas house rn: https://x.com/Mansavelli_/status/1648073454665572352
triplethread
13:29
im addicted to reacting to all of the decisions
triplethread
13:29
with the emojis
HopefullyInLawSchool
13:29
I shop at Joe
HopefullyInLawSchool
13:29
Joe's
glovediedthisishismom
13:30
i shop at tawget
glovediedthisishismom
13:30
im dawk gawthic maga
triplethread
13:30
i shop at giant eagle
ForDizzyDJoy
13:31
How did i miss Fordham and American’s wave and I applied in september 🙃
13:33
Lol UC Davis took me of ED and put me in RD
13:34
surprised I didnt get straight denied
HopefullyInLawSchool
13:34
they emailed you/
HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
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