pledgee's lien

pledgee's lien
The lien which a pledgee acquires in the thing pledged to the extent of the indebtedness secured, and which is usually held to continue as long as he retains the possession thereof either actual or symbolic and the debt which it was pledged to secure remains unpaid. 41 Am J1st Pldg & Col § 28.

Ballentine's law dictionary. . 1998.

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