pignus in a sentence
n.
📚 Grade Level: Grade 11, Grade 12
Definition
PIGNUS is a legal term referring to a pledge of property used as collateral to secure a debt in financial transactions.
Sample Sentences
- A pignus can serve as a valuable security interest in financial transactions.
- In Roman law, a pignus referred to a pledge of property to secure a debt.
- The creditor held the pignus until the borrower fulfilled their obligation.
- Understanding the concept of pignus is crucial for those studying property law.
- In modern contexts, a pignus might be represented by collateral in a loan agreement.