Chapter 50

The Pledge

When one, having taken money for the sake of interest, gives something fit for enjoyment, whether movable or immovable, it is called a usufructuary pledge. By giving the value plus the additional amount, one may recover one's own field and the like. // K_516 //

He who makes a single pledge to two persons, what shall be the procedure? The earlier of the two transactions is valid; the one who did it is liable for the punishment of a thief. // K_517 //

When a pledge, sale, or gift is made by a written document and with witnesses, if they are in conflict over a single transaction, the written document prevails. // K_518 //

When something unspecified and something specified are written in one document, the specifically written one is stronger; thus said Kātyāyana. // K_519 //

He who pledges something non-existent, of unspecified form, an empty space, that would be an unspecified pledge. Whatever he possesses at that time, that should be specified as the pledge. // K_520 //

He who, having first pledged all his property, then pledges something marked by name, how could the marked one not be stronger? // K_521 //

When a field or a village is marked by boundaries, and the villages and so on are written down, then it attains validity. // K_522 //

Whatever has been pledged, if it is destroyed by an act of god or the king, the debtor must pay the debt with interest to the creditors. // K_523 //

If it does not fall or die through the fault of the creditor, he must provide another pledge; the debtor is not released from the debt. // K_524 //

He who makes a pledge perform work against its will and without permission, that user must pay the fruit of the work, or he does not receive interest. // K_525 //

He who, by words, punishment, or actions, torments or threatens a pledge that is performing work, shall incur the first amercement. // K_526 //

Where one puts to use a pledge against its will, by force, without authorization, the pledger shall incur the first amercement and shall get back the pledge. // K_527 //

The creditor who enjoys a pledge from a debtor by means of a fraudulent document, the king, having made him pay a fine, shall destroy the fraudulent pledge-document. // K_528 //

Where the pledger is not present, the creditor should declare the pledge to the king. Then, being thus proclaimed, it is understood that it can be sold. Having taken his principal with interest, he should then deposit the remainder with the king. // K_529 //