Pledge

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..... perty" by Ray Andrews Brown (Second edition 1936), the term "pledge" has been described in the following words: "A pledge is a bailment of personal property to secure an obligation of the bailor. If the purpose of the transaction is to transfer property for security only, then the Courts will hold the transaction a pledge, even though in form it may be a sale or other out-and-out transfer." In .....

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