What is the difference between a lien and a pledge?
Alberta, Canada
The following excerpt is from Adanac Tire v. Edmonton (Judicial District), 1979 CanLII 1055 (AB QB):
This distinction has been in the law for a century. Willes J. in Halliday v. Holgate (1868), L.R. 3 Ex. 299 (Ex. Ch.), said at p. 302: “There are three kinds of security: The first, a simple lien; the second, a mortgage, passing the property out and out; the third, a security intermediate between a lien and a mortgage — viz., a pledge — where by contract a deposit of goods is made a security for a debt, and the right to the property vests in the pledgee so far as is necessary to secure the debt.”
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
What is the difference between the respective fault of a contractor and a plaintiff who failed to wear a seat belt? (Alberta, Canada)
What is the difference between a thin skull and a crumbling skull? (Alberta, Canada)
What is the difference between human rights legislation and the law of tort? (Alberta, Canada)
What is the difference between determining what happened in the past and what may happen in the future? (Alberta, Canada)
What is the difference between facts and evidence in a medical malpractice case? (Alberta, Canada)
What is the difference between a criminal offence and a regulatory offence? (Alberta, Canada)
What is the difference between a collusive marriage and an absolute divorce? (Alberta, Canada)
What is the difference between a court-appointed or volunteer amicus curiae in custody cases? (Alberta, Canada)
What is the difference between the terms “ought to” in the continuation provisos in the Durish Lease? (Alberta, Canada)
Is there any difference between a landlord and a purchaser of a lease where the lease is registered as an actual notice rather than a bill of sale? (Alberta, Canada)
