pledge

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pledge

1. Law a person who binds himself, as by becoming bail or surety for another
2. take or sign the pledge to make a vow to abstain from alcoholic drink

Pledge

 

in civil law, a means of securing the performance of obligations, whereby property of a certain value is transferred to a creditor. In the event that the debtor does not fulfill the obligation secured by the pledge, the creditor has the right to satisfy his claim from the value of the property pledged in preference to other creditors. In the USSR, obligations of both citizens and socialist organizations may be secured by pledges. A pledge may be provided for by law or by contract (a pledge contract must be concluded in writing). The object of a pledge may be any property subject to execution by law. Therefore, the fixed capital of state organizations, the seed and fodder of collective farms, of other cooperative organizations, and of associations of cooperative organizations, and the fixed assets and cultural and educational resources of trade unions and other public organizations may not be objects of a pledge.

In practice three types of pledges are used. In the so-called normal conventional pledge the pledger transfers the object of the pledge to the pledgee, for example, when a loan is made by a pawnshop. In a pledge of goods in circulation, by virtue of which the pledged property remains in the possession of the pledger, he has the right to realize this property on condition of simultaneously repaying the debt that was secured by the pledge or on condition of replacing the property with another of the same or greater value. In pledges on goods that are in the process of being manufactured, by virtue of which the pledged property remains in the possession of the pledger, the pledged property may be processed in the pledger’s enterprise. In this case, the statutory pledge extends to the products (semifinished goods, finished articles) that result from this processing. A pledge of goods in circulation and of goods that are in the process of being manufactured is used in securing the credit obligations of socialist organizations in connection with bank loans. The pledger is under obligation to ensure the safety of the pledge property.

E. G. POLONSKII

References in periodicals archive ?
Even many virginity pledgers will have sex at a young age, and they need to know how to protect themselves from unintended pregnancy and STDs when they do.
Where pledgers did differ from their nonpledge counterparts was in their use of birth control and condoms.
The fact that pledgers are less likely than similar nonpledgers to use protection should be a wake-up call to federal lawmakers who long ago should have stopped spending public money on programs that jeopardize the health of the nation's youth by censoring or misrepresenting information about contraception and safe-sex practices.
It seems that pledgers aren't really internalizing the pledge.
Consistent pledgers reported pledging during all waves or pledging for the first time during wave 3.
About 80% of those studied never reported taking a virginity pledge, 13% said they had pledged but in a later 5-year followup said they had not (they were counted as inconsistent pledgers in the study), leaving only 7% of "consistent pledgers," who reported at least once that they had pledged and never said otherwise.
Yet there's been little growth in the number of FSP pledgers since New Hampshire was chosen last year.
UK telecomms company BT plc has announced that its e-Donate application has helped viewers and pledgers raise GBP1,000,122 for BBC Children in Need 2003.
A comparison of in-school youths who took a "virginity pledge" and those who did not found that some virginity pledgers were at greater risk when they first engaged in sexual intercourse.
org), which has labor unions, investors, foundations and public pension funds as members, is best-known for the CERES Principles, which commit pledgers to ongoing environmental awareness and accountability.
Lenders know some pledges will not be honored and the lack of a definite plan to collect from delinquent pledgers could reflect negatively on a nonprofit's managers.