71-2-101. Definitions.
52 words·~1 min read·
/mt/title-71/chapter-2/part-1/71-2-101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
71-2-101 . Definitions.
(1)"Pledge" is a deposit of personal property by way of security for the performance of another's act.
(2)A pledgor and pledgee may agree upon a third person with whom to deposit the property pledged, who, if the third person accepts the deposit, is called a "pledge holder".