Clearly, the second requisite for a valid pledge-that the pledgor
be the absolute owner of the property-is absent in this case.
956-1(e)(2) provides that each pledgor
or guarantor is treated as holding the entire obligation to which its pledge or guarantee relates.
Any and all duties to maintain, preserve and protect the collateral reside exclusively with the pledgor
, and the pledgor
will normally indemnify the beneficiary from any and all claims arising from or associated with the collateral.
d) he sub-pledged the goods, at least in circumstances where he retained the ability to redeem the sub pledge if the pledgor
sought to redeem the pledge.
Within the terms of each ACA, Citi's new solutions allow pledgors
to instruct transactions on the collateral account and secured parties to monitor pledged collateral positions in a highly automated manner.
However, a pledgor
rarely possessed the means to gradually pay off an item; rather, he or she often paid the debt in full during the more prosperous wool season.
The subject matter of the pledge may be increased by the pledgor
after the conclusion of the contract.
The court itself recognized the critical importance of promise in distinguishing among the cases when it stated at the conclusion of its opinion (after citing Bever) that "where a subscription is unequivocal the pledgor
should be made to keep his word.
Share pledges and enforcement in Sweden: The battle between the pledgor
and the pledgee
In order to enter into subsequent transactions over the DMCC Tradeflow evidencing a pledge over future Warrants (issued by the storage operator as and when additional goods are deposited), the pledgor
(as the legal owner) is required to issue a new Security Notification to the DMCC on the DMCC Tradeflow in relation to the new Warrant(s) instructing the DMCC to hold the new Warrant(s) by way of pledge for the pledgee.
For tri-party account control arrangements (ACA), Citi will act as an intermediary between the pledgor
and the secured party, holding pledged collateral in a segregated custody account.