pledge 1 /'plej/ n
1: a delivery of esp. personal property as security for a debt or other obligation; broadly: the perfection of a security interest in collateral through possession of the collateral by a creditor or other promisee
2 a: property and esp. personal property that is used as security esp. upon delivery; broadly: a security interest in collateral compare chattel mortgage at mortgage
b: a contract under which the delivery of property (as personal property) as security takes place
3 a: the state of being held as security or guaranty
property held in pledge
b: something given as security for the performance of an act
4: a binding promise to do or forbear
pledge 2 vt pledged, pledg·ing
1: to deliver or otherwise put forward as security for a debt or other obligation
pledged his car as collateral for the loan
2: to bind by a pledge
we mutually pledge to each other our lives, our fortunes and our sacred honor — Declaration of Independence
3: to assure or promise the performance or payment of
pled·gor /'ple-jər, ple-'jȯr/ or pledg·er /'ple-jər/ n
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.