A pledge is a contractual guarantee whereby the debtor is dispossessed of one of its assets in favour of the creditor in order to guarantee their debt. When the asset consists of moveable goods, it is referred to as a pledge. When the asset is immoveable, it is called an antichresis (replaced by mortgage as it does not involve the seizure of the asset by the debtor). There also exists a non-possessory pledge on a business’s goodwill. This pledge covers all of the tangible and intangible assets that make up this goodwill.
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