Transfer of Property by a Pledgee

In certain communities, personal property of one kind or another is frequently deposited by way of pledge or pawn to secure performance of an obligation. The question as to the rights of the pledged in the property, both before and after the maturity of the debt, is of importance and the results flowing from an improper and illegal transfer of the property by the pledgee are often complicated. It is accordingly proposed, in the following pages, to consider transactions involving transfers of the property \u27by the pledgee and to endeavor to formulate the rules, -which regulate his rights and obligations in this respect