A treatise on the law of the contract of pledge as governed by both the common law and the civil law

Front matter

Cornell University Library KF 1060.D39

A treatise on the law of the contract of

3 1924 019 324 148

Preface

I would not have thought of writing at this late day a book on the Contract of Pledge of the Common Law exclusively. Several treatises have already been published on that subject. Text- books, besides, are too often mere repetitions of one another. My object in this work is to arrive at a better knowledge and understanding of the law of Pledge of the Common Law by qoraparing it with the l^w of Pledge of the Civil Law, from which it descends. The comparative study of scientific subjects is always profitable, whether it is that of comparative anatomy or that of comparative jurisprudence. Both Judge Story and Mr. Schouler in their Treatises on Pledges recognized the relative obscurity and uncertainty of the Common Law on that subject, and suggested that assistance could be derived for its better understanding from the knowledge of the Civil Law. This is my reason, and, if necessary, my excuse, for presenting this book to the consideration of the Bench and Bar of this country.

HENKY DENIS.

Table Of Contents

CHAPTEK I.

PAGBS.

Introduction. Keal aad personal securities. Contract of pledge known to tbie Mosaic Law. Origin of the word pledge. Pignus of the Koman Law. Growing importance of personal property. Hence the great importance of the pledge in modern times. It is the pivot of commerce. Difference between the chattel mortgage and pledge. Confusion in Common law in this respect. No confiisiOQ in the Civil law. Equitable liens of the Common law have encroached upon the law of pledge and caused a departure from its fundamental principles 1-21