pledgee

Definition of "pledgee"
  1. An individual or entity who receives property as a security against a loan or obligation
How to use "pledgee" in a sentence
  1. The bank, acting as the pledgee, holds the borrower's property until the loan is paid off.
  2. A pledgee can sell the pledged property if the borrower defaults on the loan.
  3. The pledgee must return the property when the debtor fulfills the obligations.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z