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 ?
However, I believe the RAND results can be largely explained by uncontrolled religious and attitudinal differences between pledgers and nonpledgers.
The RAND study matched pledgers and nonpledgers on 24 prepledge factors: my study matched them on 112.
Among these teenagers, pledgers were still much more likely than nonpledgers to report behaviors that encourage abstinence independent of a virginity pledge--for example, being born-again Christians (66% vs.
6% of consistent pledgers tested positive for trichomoniasis, chlamydia, and/or gonorrhea.
Pledgers did have fewer sexual partners than nonpledgers (average of 1.
About 2% of nonpledgers fell into that group, compared with 13% of consistent pledgers and 5% of inconsistent pledgers.
Sixty-one percent of consistent pledgers, 79% of inconsistent pledgers, and 90% of all non-pledgers said on the questionnaire that they did have sex before marriage.
This is the source of the news reports that pledgers were six times as likely to have oral sex.
In contrast with earlier studies, which used regression analysis to compare pledgers and the general population of nonpledgers, this study was unique in matching 289 youth who had pledged in 1996 with 645 nonpledgers on 112 prepledge factors that may influence sexual behavior (e.
After matching, the mean age of both pledgers and nonpledgers at the 1995 interview was 16, and 61% were female; six in 10 lived with both biological parents.
In 2001, similar proportions of pledgers and matched nonpledgers reported having had sexual intercourse either before or after marriage (73% and 76%, respectively), and having had premarital intercourse and still being unmarried (53% and 57%, respectively).
Furthermore, researchers concluded that some pledgers engaged in alternative sexual behaviors in order to preserve their virginity.