A pledge arises by virtue of a contract. A pledge also may arise on the basis of a statute upon the occurrence of the circumstances indicated in it if the statute provides what property is recognized as being in pledge and for securing the performance of what obligation.
A pledge may take the form of:
- a deposit;
- a pledge of goods in a pawnshop;
- a pledge of rights;
- a pledge of monetary assets;
- a firm pledge;
- a pledge of goods in commerce;
- a mortgage.
Source: Iravaban.net