Pfand (Noun) – someone who has accepted membership but has not yet been fully admitted to the group In the pledges, both parties have certain rights and debts. The pawn contract represents only one sentence: the conditions under which the debt or commitment is fulfilled and the mortgaged assets are returned. On the one hand, the right of subjugation extends to the preservation and protection of its property while it is in the possession of the pawnbroker. Accommodation cannot be used without permission, unless use is necessary for its preservation, for example. B the exercise of a living animal. Unauthorized use of the property is called processing and may make the deposit-taker liable for the damage suffered; Maria should not use Jean`s stereo when she owns it. Pledge, contracts. Who becomes someone else`s security, and in that sense, whoever becomes a surety for another is a promise. 4 Inst. 180 Dig. B.
See wishes. Consignation (Noun) – drink in honour or for the health of a person or event Pawned property must be in the possession of a pawn taker. This can be done in two ways. The property may be owned by the pawnbroker, which means physical possession (for example, Mary Johns owns the stereo in her house). Otherwise, he may be in constructive possession of the deposit, which means that the pfandeine has some control over the property, which usually occurs when actual possession is impossible. For example, a pawn taker has constructive possession of the contents of a safe in a bank if the pfandgor gives the pawnbroker the only keys to the box. A deposit contract determines what is owed, the property that must be used as a guarantee and the conditions for the performance of the debt or obligation. In a simple example, John asks to borrow $500 from Mary. Mary first decides that John must promise his stereo safely, that he will pay off the debt at some point. In the law, we call John the Pledgor, and Mary the Inseparable. The stereo is called mortgaged property.
As in any joint deposit agreement, the holding of mortgaged property is transferred to the pawnbroker. At the same time, however, the ownership (or title) of the mortgaged property remains a pawn. John gives Mary the stereo, but he still owns it legally. If John stirs up the debts as part of the contractual agreement, Mary must return the stereo. But if he doesn`t pay, she can sell it to pay off his debts. v. to deposit personal property as collateral for a personal loan of money. If the loan is not repaid at maturity, the mortgaged personal assets are paid to the lender.