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Simple English definitions for legal terms

safe-pledge

Read a random definition: no-merit brief

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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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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