Pledge Agreement Forms
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What is a pledge?
A pledge is used for a personal property to a creditor as a security for a debt or for the performance of an act. It is a contract that is mad e to specify what is owed, the property that is going to be used as a pledge and the conditions for how the debt with be satisfied.
What is the difference between a bailment and a pledge?
When discussing a bailment, it’s the handing over of goods, property that involves the change of who possesses it, but not the ownership of the goods. It’s a specific purpose that those goods are being transferred from one party to another. A pledge is a contract that an item is delivered or deposited with a money lender, it’s used for security for a repayment of a debt owed by he/her.
What is a stock pledge?
A stock pledge is becoming popular with industry type operations. The stock pledge is a transfer of stocks against a debt. This debtor is pledging the stock as a security against the debt. By law, once the payment of the obligation is done, then the lender must return the stocks to the debtor and then the agreement becomes void.
What are the most common forms used for Pledge Agreements?
The most popular forms used are Sample Letter for Promissory Note and Stock Pledge Agreement, Agreement Pledge of Stock and Collateral for Loan, Stock Pledge Agreement by Portola Company IV LLC for Portola Packaging, Inc., Pledge and Security Agreement Regarding the Finance of Acquisition of Shares of Common Stock, and Promissory Note and Pledge Agreement Regarding Loan and Grant of Security Interest in Shares of the Company’s Common Stock.