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Legal Dictionary of Pakistan

Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.

Frankpledge

Hist. A promise given to the sovereign by a group of ten freeholders (a tithing) ensuring the group's good conduct. * The frankpledge was of Saxon origin, but continued after the Norman Conquest. The members of the group were not liable for an injury caused by an offending member, but they did act as bail to ensure that the culprit would appear in court. They were bound to produce a wrongdoer for trial. - Also termed laughe. See VlEW OF FRANKPLEDGE. Cf. DECENARY.

Pledge

n. 1. A bailment or other deposit of personal property to a creditor as security for a debt or obligation; PAWN (2). Cf. LIEN. 2. The item of personal property so deposited; PAWN (1). 3. Broadly, the act of providing something as security for a debt or obligation. 4. The thing so provided. 5. Hist. A person who acts as a surety for the prosecution of a lawsuit. a In early practice, pledges were listed at the end of the declaration. Over time the listing of pledges became a formality, and fictitious names (such as "John Doe" or "Richard Roe") were allowed. - pledge, ub. - pledgeable, adj.

Pledgee

One with whom a pledge is deposited.

Pledgery

Archaic. See SURETYSHIP (1)

chief pledge.

See BOROUGH-HEAD.

dead pledge. Archaic

See MORTGAGE (1).

negative-pledge clause.

1. A provision requiring a borrower, who borrows funds without giving security, to refrain from giving future lenders any security without the consent of the first lender. 2. A provision, usu. in a bond indenture, stating that the issuing entity will not pledge its assets if it will result in less security to the bondholders under the indenture agreement.

pledged account

A mortgagor's account pledged to a lender in return for a loan bearing interest at a below-market rate.

view of frankpledge

Hist. The twice-yearly gathering and inspection of every freeman within the district who was more than 12 years old to determine whether each one had taken the oath of allegiance and had found 9 freeman pledges for his peaceable demeanor. See FRANKPLEDGE.