pledgee in a sentence
n.
📚 Grade Level: Grade 11, Grade 12
Definition
PLEDGEE: A party to whom a pledge is made, typically holding the right to claim or seize the pledged asset in case of default.
Sample Sentences
- The bank requires the pledgor to provide detailed information about the pledgee during the loan process.
- In a collateral agreement, the pledgee holds the right to seize the pledged asset if the borrower defaults.
- The relationship between the pledgor and the pledgee can significantly influence the terms of the financial contract.
- To protect the interests of the pledgee, legal documentation must clearly outline the terms of the pledge.
- When the terms of the loan are fulfilled, the pledgee must release the pledged asset back to the pledgor.