pledge

(plĕj)
n.

1. A solemn binding promise to do, give, or refrain from doing something: signed a pledge never to reveal the secret; a pledge of money to a charity.
2. 1. Something given or held as security to guarantee payment of a debt or fulfillment of an obligation.
   2. The condition of something thus given or held: put an article in pledge.
3. Law.
   1. Delivery of goods or personal property as security for a debt or obligation: a loan requiring a pledge of property.
   2. The contract by which such delivery is made.
4. A token or sign: "fair pledges of a fruitful tree" (Robert Herrick).
5. A person who has been accepted for membership in a fraternity or similar organization and has promised to join but has not yet been initiated.
6. The act of drinking in honor of someone; a toast.
7. A vow to abstain from alcoholic liquor: ex-drinkers who have taken the pledge.

v., pledged, pledg·ing, pledg·es.

v.tr.

1. To offer or guarantee by a solemn binding promise: pledge loyalty to a nation. See synonyms at devote, promise.
2. To bind or secure by or as if by a pledge: pledged themselves to the cause.
3. To deposit as security; pawn.
4. 1. To promise to join (a fraternity or similar organization).
   2. To accept as a prospective member of such an organization.
5. To drink a toast to.

v.intr.

1. To make a solemn binding promise; swear.
2. To drink a toast.

[Middle English, from Old French plege, probably from Late Latin plevium, a security, of Germanic origin.]

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Transfer or assignment of assets to secure payment of an obligation. Also called a Security Interest. The borrower assigns an interest in the property to the lender, which becomes a Lien on the collateral. If the borrower offers stocks, bonds, or other securities as collateral, the lender generally takes possession or is assigned ownership of the collateral until the loan is paid. See also Hypothecation; Margin; Perfected Lien; Regulation T.

noun

1. A declaration that one will or will not do a certain thing: assurance, covenant, engagement, guarantee, guaranty, plight², promise, solemn word, vow, warrant, word, word of honor. See obligation.
2. Something given to guarantee the repayment of a loan or the fulfillment of an obligation: earnest², guaranty, pawn¹, security, token, warrant. See transactions.
3. The act of drinking to someone: toast. See desire, remember/forget.

verb

1. To guarantee by a solemn promise: covenant, plight², promise, swear, vow. Idioms: give one's word of honor. See agree/disagree, obligation.
2. To assume an obligation: contract, engage, promise, undertake. See agree/disagree, obligation.
3. To be morally bound to do: bind, charge, commit, obligate. See obligation.
4. To give or deposit as a pawn: hypothecate, mortgage, pawn¹. Slang hock. See transactions.
5. To salute by raising and drinking from a glass: drink, toast. See desire, remember/forget.

n

Definition: sign of good faith, word of honor
Antonyms: break

v

Definition: guarantee; give word of honor
Antonyms: break, disobey, falsify

n. a solemn promise or undertaking: the conference ended with a joint pledge to limit nuclear testing.

v.

1. commit (a person or organization) by a solemn promise: the government pledged itself to deal with environmental problems.

2. formally declare or promise that something is or will be the case: the president pledged that 20, 000 troops would be sent.

3. solemnly undertake to do something: they pledged to continue the campaign for funding.

4. undertake formally to give: Japan pledged $100 million in humanitarian aid.

See the Introduction, Abbreviations and Pronunciation for further details.

This entry contains information applicable to United States law only.

A bailment or delivery of personal property to a creditor as security for a debt or for the performance of an act.

Sometimes called bailment, pledges are a form of security to assure that a person will repay a debt or perform an act under contract. In a pledge one person temporarily gives possession of property to another party. Pledges are typically used in securing loans, pawning property for cash, and guaranteeing that contracted work will be done. Every pledge has three parts: two separate parties, a debt or obligation, and a contract of pledge. The law of pledges is quite old, but in contemporary U.S. law it is governed in most states by the provisions for secured transactions in article 9 of the Uniform Commercial Code.

Pledges are different from sales. In a sale both possession and ownership of property are permanently transferred to the buyer. In a pledge only possession passes to a second party. The first party retains ownership of the property in question, while the second party takes possession of the property until the terms of the contract are satisfied. The second party must also have a lien — or legal claim — upon the property in question. If the terms are not met, the second party can sell the property to satisfy the debt. Any excess profit from the sale must be paid to the debtor, or first party. But if the sale does not meet the amount of the debt, legal action may be necessary.

A contract of pledge specifies what is owed, the property that shall be used as a pledge, and conditions for satisfying the debt or obligation. In a simple example, John asks to borrow $500 from Mary. Mary decides first that John will have to pledge his stereo as security that he will repay the debt by a specific time. In law John is called the pledgor, and Mary the pledgee. The stereo is referred to as pledged property. As in any common pledge contract, possession of the pledged property is transferred to the pledgee. At the same time, however, ownership (or title) of the pledged property remains with the pledgor. John gives the stereo to Mary, but he still legally owns it. If John repays the debt under the contractual agreement, Mary must return the stereo. But if he fails to pay, she can sell it to satisfy his debt.

Pledged property must be in the possession of a pledgee. This can be accomplished in one of two ways. The property can be in the pledgee's actual possession, meaning physical possession (for example, Mary keeps John's stereo at her house). Otherwise, it can be in the constructive possession of the pledgee, meaning that the pledgee has some control over the property, which typically occurs when actual possession is impossible. For example, a pledgee has constructive possession of the contents of a pledgor's safety deposit box at a bank when the pledgor gives the pledgee the only keys to the box.

In pledges both parties have certain rights and liabilities. The contract of pledge represents only one set of these: the terms under which the debt or obligation will be fulfilled and the pledged property returned. On the one hand, the pledgor's rights extend to the safekeeping and protection of his property while it is in possession of the pledgee. The property cannot be used without permission unless use is necessary for its preservation, such as exercising a live animal. Unauthorized use of the property is called conversion and may make the pledgee liable for damages; thus, Mary should not use John's stereo while in possession of it.

For the pledgee, on the other hand, there is more than the duty to care for the pledgor's property. The pledgee has the right to the possession and control of any income accruing during the period of the pledge, unless an agreement to the contrary exists. This income reduces the amount of the debt, and the pledgor must account for it to the pledgee. Additionally, the pledgee is entitled to be reimbursed for expenses incurred in retaining, caring for, and protecting the property. Finally, the pledgee need not remain a party to the contract of pledge indefinitely. She can sell or assign her interest under the contract of the pledge to a third party. However, the pledgee must notify the pledgor that the contract of pledge has been sold or reassigned; otherwise, she is guilty of conversion.

IN BRIEF: A promise or agreement.

We mutually pledge to each other our lives, our fortunes, and our sacred honor. — Thomas Jefferson (1743-1826)

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noun
noun, US, colleges'

A student who has pledged to join a fraternity (or sorority). (1901 —) .

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For a list of words related to pledge, see:

• Extracurricular Activities and Concerns - pledge: person who has promised to join a fraternity or sorority; (vb) make such a promise
• Expressions of Feeling - pledge: promise solemnly

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See words rhyming with "pledge."

  See crossword solutions for the clue Pledge.

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Dansk (Danish)
n. - pant, løfte, forpligtelse
v. tr. - pantsætte
v. intr. - forpligte

Nederlands (Dutch)
(plechtig) beloven, in onderpand geven, drinken op, (plechtige) belofte, onderpand, toast, garantie, symbool

Français (French)
n. - promesse, engagement, gage, promesse de don, toast, (US, Univ) étudiant en période d'initiation à l'entrée d'un club
v. tr. - promettre, s'engager à faire, mettre (qch) en gage, porter un toast à (arch), (US, Univ) accepter de subir l'épreuve d'initiation pour entrer dans un club d'étudiants
v. intr. - s'engager solennellement (à faire), porter un toast à

Deutsch (German)
n. - Gelöbnis, Zusicherung, Trinkspruch, Pfand, Versprechen
v. - versprechen, einen Trinkspruch ausbringen auf, verpfänden

Ελληνική (Greek)
n. - όρκος πίστης ή καθήκοντος, εχέγγυο, εγγύηση, ενέχυρο, (δεσμευτική) υπόσχεση, επαγγελία, δέσμευση, τεκμήριο
v. - ενεχυριάζω, υπόσχομαι, δεσμεύομαι, αναλαμβάνω (υποχρέωση ή δέσμευση), δίνω το λόγο μου, δίνω όρκο πίστης ή καθήκοντος, προπίνω, κάνω πρόποση, (απαρχ.) εγγυώμαι, παρέχω εχέγγυο

Italiano (Italian)
promettere, impegnare, pegno, promessa, giuramento

Português (Portuguese)
n. - valor (m), fiança (f), penhor (m), garantia (f), brinde (m)
v. - empenhar, hipotecar, brindar

Русский (Russian)
ручаться, закладывать, залог, обет

Español (Spanish)
n. - garantía, prenda, convenio, promesa solemne
v. tr. - prometer, empeñar, pignorar
v. intr. - dar la palabra

Svenska (Swedish)
n. - löfte, pant
v. - utlova, förbinda, ge sitt hedersord, lämna som säkerhet, sätta i pant, skåla för

中文（简体）(Chinese (Simplified))
保证, 抵押, 誓言, 使发誓, 许诺, 发誓, 祝酒

中文（繁體）(Chinese (Traditional))
n. - 保證, 抵押, 誓言
v. tr. - 保證, 抵押, 使發誓
v. intr. - 許諾, 保證, 發誓, 祝酒

한국어 (Korean)
n. - 담보, 맹세
v. tr. - 서약[약속]하다
v. intr. - 서약하다, 보증인이 되다

日本語 (Japanese)
n. - 誓約, 担保, 仮入会員, 印, 保証
v. - 誓約する, 誓約させる, …のために乾杯する, 担保にする

العربيه (Arabic)
‏(الاسم) رهن, تعهد, عهد, ارتباط, شرب النخب (فعل) يتعهد, يرهن, يشرب نخب فلان‏

עברית (Hebrew)
n. - ‮התחייבות, עירבון, הבטחה, משכון, סימן, אות‬
v. tr. - ‮הבטיח, משכן, נתן בעבוט, שתה לחיי-‬
v. intr. - ‮התחייב‬

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