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\Pledge\, n. [OF. plege, pleige, pledge, guaranty, LL.
plegium, plivium; akin to OF. plevir to bail, guaranty,
perhaps fr. L. praebere to proffer, offer (sc. fidem a trust,
a promise of security), but cf. also E. play. [root]28. Cf.
{Prebend}, {Replevin}.]
1. (Law) The transfer of possession of personal property from
a debtor to a creditor as security for a debt or
engagement; also, the contract created between the debtor
and creditor by a thing being so delivered or deposited,
forming a species of bailment; also, that which is so
delivered or deposited; something put in pawn.
Note: Pledge is ordinarily confined to personal property; the
title or ownership does not pass by it; possession is
essential to it. In all these points it differs from a
mortgage [see {Mortgage}]; and in the last, from the
hypotheca of the Roman law. See {Hypotheca}. --Story.
Kent.
2. (Old Eng. Law) A person who undertook, or became
responsible, for another; a bail; a surety; a hostage. ``I
am Grumio's pledge.'' --Shak.
3. A hypothecation without transfer of possession.
4. Anything given or considered as a security for the
performance of an act; a guarantee; as, mutual interest is
the best pledge for the performance of treaties. ``That
voice, their liveliest pledge of hope.'' --Milton.
5. A promise or agreement by which one binds one's self to
do, or to refrain from doing, something; especially, a
solemn promise in writing to refrain from using
intoxicating liquors or the like; as, to sign the pledge;
the mayor had made no pledges.
6. A sentiment to which assent is given by drinking one's
health; a toast; a health.
{Dead pledge}. [A translation of {LL}. mortuum vadium.] (Law)
A mortgage. See {Mortgage}.
{Living pledge}. [A translation of LL. vivum vadium.] (Law)
The conveyance of an estate to another for money borrowed,
to be held by him until the debt is paid out of the rents
and profits.
{To hold in pledge}, to keep as security.
{To put in pledge}, to pawn; to give as security.
Syn: See {Earnest}.
\Pledge\, v. t. [imp. & p. p. {Pledged}; p. pr. & vb. n.
{Pledging}.] [Cf. OF. pleiger to give security. See {Pledge},
n.]
1. To deposit, as a chattel, in pledge or pawn; to leave in
possession of another as security; as, to pledge one's
watch.
2. To give or pass as a security; to guarantee; to engage; to
plight; as, to pledge one's word and honor.
We mutually pledge to each other our lives, our
fortunes, and our sacred honor. --The
Declaration of
Independence.
3. To secure performance of, as by a pledge. [Obs.]
To pledge my vow, I give my hand. --Shak.
4. To bind or engage by promise or declaration; to engage
solemnly; as, to pledge one's self.
5. To invite another to drink, by drinking of the cup first,
and then handing it to him, as a pledge of good will;
hence, to drink the health of; to toast.
Pledge me, my friend, and drink till thou be'st
wise. --Cowley.
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