Form ID: EAP114
Pledge of Shares of Stock form is standard written agreement to deliver shares of stock to creditor to secure payment of a debt from Easy Agreements. A pledge (also pawn) is a bailment of personal or business property (tangible or intangible) to a creditor to secure repayment for some debt. The pledge is for the benefit of both parties, the pledgee is bound to exercise only ordinary care over the pledge. The pledgee has the right of selling the pledge if the pledgor makes default in payment at the stipulated time. No right is acquired by the wrongful sale of a pledge except in the case of property passing by delivery, such as money or negotiable securities. In the case of a wrongful sale by a pledgee, the pledgor cannot recover the value of the pledge without a tender of the amount due.
This DIY Pledge of Shares of Stock form describes all the terms and conditions which are considered to be necessary during such type of contracts.
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