Bailment given as security for the payment of a debt is a(n): ______.

Name: Bailment given as security for the payment of a debt is a(n): ______.
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A bailment given as security for the payment of a debt is commonly referred to as a pledge. A pledge is a form of security where the borrower (pledgor) gives the lender (pledgee) the possession of a valuable asset (the bailment) until the debt is fully paid off.

Bailment Given as Security for the Payment of a Debt