Pledge: Difference between revisions
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imported>Doug Williamson (Classify page.) |
(Add definition - source - Linked page.) |
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1. ''Borrowing and lending - noun.'' | |||
An item transferred by a borrower to a lender, as a security for a debt. | An item transferred by a borrower to a lender, as a security for a debt. | ||
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The lender normally retains physical possession of the asset until the debt is repaid. | The lender normally retains physical possession of the asset until the debt is repaid. | ||
2. ''Borrowing and lending - verb.'' | |||
To provide security for a loan. | |||
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* [[Fixed charge]] | * [[Fixed charge]] | ||
* [[Garnishee order]] | * [[Garnishee order]] | ||
* [[Hypothecate]] | |||
* [[Lien]] | * [[Lien]] | ||
* [[Mortgage]] | * [[Mortgage]] | ||
* [[Remedy]] | * [[Remedy]] | ||
* [[Security]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 18:55, 27 February 2025
1. Borrowing and lending - noun.
An item transferred by a borrower to a lender, as a security for a debt.
The borrower remains the legal owner of the item, but if the borrower fails to repay the loan the lender has the right to sell it and to use the proceeds to pay the debt.
The lender normally retains physical possession of the asset until the debt is repaid.
2. Borrowing and lending - verb.
To provide security for a loan.
