Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Plenipotentiary
A person who has full power to do a thing; a person fully commissioned to act for another. See minister plenipotentiary under MINISTER. "A pledge is something more than a mere lien and something less than a mortgage." Leonard A. Jones, A Treatise on the Law of Collateral Securities and Pledges § 2, at 4 (Edward M. White rev., 3d ed. 1912). "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." Ray Andrews Brown, The Law of Personal Property § 128, at 622 (2d ed. 1936)."The pledge is as old as recorded history and is still in use, as the presence of pawnbrokers attests. In this transaction the debtor borrows money by physically transferring to a secured party the possession of the property to be used
minister plenipotentiary
See MINISTER.