Pledge

Pledge
A pledge involves the deposit of personal property as security for a debt, typically entailing the delivery of goods by a debtor to a creditor until the debt is repaid. It is commonly defined as a lien or a contract that mandates the transfer of personal property only as security.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.