The pledge meaning is determined by the words spoken and the context in which they are spoken. In simple language, it is a powerful term for expressing dedication and commitment. Scroll down to learn more about pledge.
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What is the meaning of pledge?
The pledge is a kind of security interest in which a lender seizes personal property as collateral for a debt.
A bailment that transfers ownership rights to property belonging to a debtor (the pledgor) to a creditor (the pledgee) for the benefit of both parties and as a guarantee of repayment of a debt is another definition of a pledge.
Until a debt (or other obligation) is paid in full and the property is then returned, the pledgee has the right to hold onto those proprietary rights over the pledged property.
The pledge also serves as a means of committing to specific goals or values. Example: a member of a social organisation pledge to work towards specific goals, like community service.
What is pledge in banking?
When a person visits a bank to apply for a loan, the bank may request a specific item from the borrower and keep it as collateral for the loan. This practice is known as a pledge. The possessions can be products or papers like certificates, but not any property.
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What is the meaning of pledge?
Raushani Jha
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1 Year
2023-05-30T21:53:25+00:00 2023-05-31T13:00:06+00:00Comment
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