One of the mysteries of the English language finally explained.
A person to whom a pledge is given.
- ‘Under English law, it said, there could be no doubt that a pledgee like the bank might hand back to the pledgor as his agent goods it had pledged for the purposes of sale, without diminishing the power of the security.’
- ‘It is worthwhile recalling, however, that where the amount of the credit involved exceeds £25,000, or where the pledgee is a company, the transaction is in any event not a regulated agreement.’
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