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pledgee
This term is a specialized legal designation used primarily in contract and property law. It identifies the party receiving a security interest, contrasting directly with the pledgor, who provides the asset. Because it is a technical term of art, it is rarely encountered in casual conversation and is almost exclusively found in legal documents, loan agreements, and judicial proceedings.
In a commercial context, the pledgee is typically a financial institution or a creditor. The term carries a neutral, formal tone and implies a fiduciary or contractual relationship where the pledgee holds a legal right to the asset only until specific conditions, such as debt repayment, are met.
Meanings
Examples
The pledgee has the right to retain the asset until the loan is paid in full.
As the pledgee, the bank holds the gold bars as security for the credit line.
Who is the designated pledgee in this security agreement?
The pledgee may sell the collateral if the debtor defaults on the payment.
I wonder if the pledgee will accept a different asset as a replacement.
The contract clearly defines the obligations of both the pledgor and the pledgee.
The pledgee must exercise reasonable care in preserving the pledged property.
The pawnbroker acted as the pledgee for the antique watch.