has a period of seven days from the date of the Registry's notification to raise any objections to the registration application.
If the bank recognizes a reduction in the counterparty's risk of a contingent liability because of collateral, it must calculate the credit risk for the guarantor (the pledgor
/ issuer of the debt security).
1.956-1(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.
If a bracelet had a retail value of six dollars, the pledgor
could extract a loan up to but not exceeding that amount.
may, therefore, denounce such contract before delivery of the pledge.
Similarly, securities can default if the counterparty (cash borrower and collateral pledgor
), the obligor on the underlying collateral securities held by the lender, or both default.
1974) (holding a pledge unenforceable against the pledgor
's estate because "the donative intent as to the specific material plan ...
3:251, see also Schuit et al., supra note 41, [sections] 7.02[a][i] ("The President of the District Court may, at the request of either the pledgee or the pledgor
, order a different form of sale, such as a private sale to a specific third party, so that higher proceeds may be realized.").
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." 221 N.W.2d at 613.
machinery that is under-construction) the pledgor
would have a contract for purchase or construction and should be able to describe the asset, its value and date of completion.