Pledge (?), n. [OF. plege,
pleige, pledge, guaranty, LL. plegium, plivium;
akin to OF. plevir to bail, guaranty, perhaps fr. L.
praebere to proffer, offer (sc. fidem a trust, a
promise of security), but cf. also E. play. √28. Cf.
Prebend, Replevin.] 1. (Law)
The transfer of possession of personal property from a debtor to
a creditor as security for a debt or engagement; also, the contract
created between the debtor and creditor by a thing being so delivered
or deposited, forming a species of bailment; also, that which is so
delivered or deposited; something put in pawn.
&fist; Pledge is ordinarily confined to personal property;
the title or ownership does not pass by it; possession is essential to
it. In all these points it differs from a mortgage [see
Mortgage]; and in the last, from the hypotheca of the
Roman law. See Hypotheca. Story. Kent.
2. (Old Eng. Law) A person who
undertook, or became responsible, for another; a bail; a surety; a
hostage. "I am Grumio's pledge." Shak.
3. A hypothecation without transfer of
possession.
4. Anything given or considered as a security
for the performance of an act; a guarantee; as, mutual interest is the
best pledge for the performance of treaties. "That voice,
their liveliest pledge of hope." Milton.
5. A promise or agreement by which one binds
one's self to do, or to refrain from doing, something; especially, a
solemn promise in writing to refrain from using intoxicating liquors
or the like; as, to sign the pledge; the mayor had made no
pledges.
6. A sentiment to which assent is given by
drinking one's health; a toast; a health.
Dead pledge. [A translation of LL.
mortuum vadium.] (Law) A mortgage. See
Mortgage. -- Living pledge. [A
translation of LL. vivum vadium.] (Law) The
conveyance of an estate to another for money borrowed, to be held by
him until the debt is paid out of the rents and profits. --
To hold in pledge, to keep as security. --
To put in pledge, to pawn; to give as
security.
Syn. -- See Earnest.
Pledge, v. t. [imp. & p.
p. Pledged (?); p. pr. & vb. n.
Pledging.] [Cf. OF. pleiger to give security. See
Pledge, n.] 1. To
deposit, as a chattel, in pledge or pawn; to leave in possession of
another as security; as, to pledge one's watch.
2. To give or pass as a security; to
guarantee; to engage; to plight; as, to pledge one's word and
honor.
We mutually pledge to each other our lives, our
fortunes, and our sacred honor.
The Declaration of
Independence.
3. To secure performance of, as by a
pledge. [Obs.]
To pledge my vow, I give my hand.
Shak.
4. To bind or engage by promise or
declaration; to engage solemnly; as, to pledge one's
self.
5. To invite another to drink, by drinking of
the cup first, and then handing it to him, as a pledge of good will;
hence, to drink the health of; to toast.
Pledge me, my friend, and drink till thou be'st
wise.
Cowley.
