Title 35, Liens
37 chapters · 265 sections in this title.
N.D.C.C. § 35-06-01 Pledge defined
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Pledge is a deposit of personal property as security for the performance of another act. Every contract by which the possession of personal property is transferred as security only is a pledge and its validity and effect are governed by the provisions of this chapter except as mo…
N.D.C.C. § 35-06-02 Lien of pledge dependent on possession
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The lien of a pledge is dependent on possession and no pledge is valid until the property pledged is delivered to the pledgee or to a pledgeholder as hereinafter prescribed.
N.D.C.C. § 35-06-03 Increase of property pledged with property
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The increase of property pledged is pledged with the property.
N.D.C.C. § 35-06-04 Lien may be pledged
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One who has a lien upon property may pledge it to the extent of that person's lien.
N.D.C.C. § 35-06-05 Pledge by apparent owner - Effect - Estoppel of actual owner
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One who has allowed another to assume the apparent ownership of property for the purpose of making any transfer of it cannot set up that person's own title to defeat a pledge of the property made by the other to a pledgee who received the property in good faith in the ordinary co…
N.D.C.C. § 35-06-06 Pledge to secure another's obligation - Effect - Withdrawal
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Property may be pledged as security for the obligation of a person other than the owner and in so doing the owner has all the rights of a pledgor for the owner except that one who pledges property as security for the obligation of another cannot withdraw the property pledged othe…
N.D.C.C. § 35-06-07 Pledgeholder defined - Duties
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A pledgor and pledgee may agree upon a third person with whom to deposit the property pledged who, if the third person accepts the deposit, is called a pledgeholder, and the third person must enforce all the rights of the pledgee unless authorized by the pledgee to waive them.
N.D.C.C. § 35-06-08 Liability of pledgee and of pledgeholder
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A pledgee or a pledgeholder for reward assumes the duties and liabilities of a depositary for reward. A gratuitous pledgeholder assumes the duties and liabilities of a gratuitous depositary.
N.D.C.C. § 35-06-09 Exoneration of pledgeholder
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A pledgeholder for reward cannot exonerate the pledgeholder from the pledgeholder's undertaking, and a gratuitous pledgeholder can do so only by giving reasonable notice to the pledgor and pledgee to appoint a new pledgeholder, and in case of their failure to agree, by depositing…
N.D.C.C. § 35-06-10 Fraudulent misrepresentation of property pledged - Rights of creditor
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When a debtor has obtained credit or an extension of time by a fraudulent misrepresentation of the value of the property pledged by or for the debtor, the creditor may demand a further pledge to correspond with the value represented and in default thereof may recover the creditor…
N.D.C.C. § 35-06-11 Pledge enforced - Sale when performance due
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When performance of the act for which a pledge is given is due in whole or in part, the pledgee may collect what is due the pledgee by a sale of the property pledged, subject to the rules and exceptions prescribed in this chapter and in sections 41-09-98 through 41-09-123.