A deposit contract determines what is owed, the property that must be used as a guarantee and the conditions for the performance of the debt or obligation. In a simple example, John asks to borrow $500 from Mary. Mary first decides that John must promise his stereo safely, that he will pay off the debt at some point. In the law, we call John the Pledgor, and Mary the Inseparable. The stereo is called mortgaged property. As in any joint deposit agreement, the holding of mortgaged property is transferred to the pawnbroker. At the same time, however, the ownership (or title) of the mortgaged property remains a pawn. John gives Mary the stereo, but he still owns it legally. If John stirs up the debts as part of the contractual agreement, Mary must return the stereo. But if he doesn`t pay, she can sell it to pay off his debts.
On the other hand, for the pawnbroker, there is more than the obligation to take care of the ownership of the pledge. The pawnbroker is entitled to the possession and control of all income collected during the collateral period, unless otherwise agreed. This income reduces the amount of the debt and the pfandgor must bring it to justice by the pawnbroker. In addition, the pawnbroker is entitled to reimbursement of the costs incurred by the preservation, maintenance and protection of the property. Finally, the pawnbroker must not remain a party indefinitely to the deposit agreement. It may sell or sell its shares in the pawn contract to a third party. However, the pawnbroker must inform the pledge that the deposit contract has been sold or reassigned; Otherwise, she is guilty of conversion. In the ancient medieval law, especially in Germanic law, there were two kinds of pledges, be possessed (see Altenglisch wed, Altfranie ernss, althochdeutsch wetti, Latin pignus depositum), i.e. supplied from the beginning, or not possessed (cf. OE b`d, OFr nam, nant, OHG pfant, L pignus oppositum), i.e.
distracted at the due date, and essentially led to the principle of law. This distinction persists in some systems, for example. B in French pledge vs. collateral and Dutch vuistpand vs. stil pand. Reciprocal symbolic (symbolic) commitments have generally been included in official ceremonies to consolidate agreements and other transactions. The borrower must continue to report and pay taxes on all income from mortgaged assets. However, since they were not required to sell their portfolios to pay the down payment, they will not pay them to a higher income bracket. Pledge, contracts. Who becomes someone else`s security, and in that sense, whoever becomes a surety for another is a promise. 4 Inst.
180 Dig. B. See wishes. Again, the action seizure agreement may have established that the petitioner is not entitled to „exercise voting rights and/or consensual powers,“ but it has not abolished the voting rights of the shares themselves. As it is indisputable that the petitioner remains the holder of at least 20% of Moklam`s voting shares, the constant requirements of BCL 1104-a are met. The pawned property must be held by a pawnbroker. This can be done in two ways. The property may be owned by the pawnbroker, which means physical possession (for example, Mary Johns owns the stereo in her house). Otherwise, he may be in constructive possession of the deposit, which means that the pfandeine has some control over the property, which usually occurs when actual possession is impossible. For example, a pawn taker has constructive possession of the contents of a safe in a bank if the pfandgor gives the pawnbroker the only keys to the box.
The collateral of assets on a parent`s loans carries a risk of default, since there is no control over the borrower`s repayment.